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Published on Thursday, July 15, 2021

Air Astana posts half-year profit






Kazakhstan's Air Astana Group has posted a net profit of US$4.9 million for the first six months of 2021, rebounding from a loss of US$66.2 million for the January to June 2020 period.


Passengers carried increased by 91% to 2.97 million, of which 2.5 million were carried on domestic routes, which is an increase of 125%.


"The two brands, Air Astana and our LCC FlyArystan, have both performed well on domestic routes. Strong market growth and a preference for air travel over long rail journeys have transformed Kazakhstan into the world's fastest growing domestic market with 31% passenger growth over 2019, undoubtedly stimulated by FlyArystan's ultra-low fares," said President & CEO Peter Foster.


FlyArystan was launched in May 2019.


Whilst international capacity remains at 45% of the level of 2019, Foster said 'higher yields on regional routes, coupled with high demand on 'lifestyle' routes to The Maldives, Red Sea, Montenegro, Dubai, Turkey, Georgia and Sri Lanka, have also contributed to the turnaround.'


Foster cautioned on guidance for the remainder of the year however.


"Covid case numbers are again moving in the wrong direction in Central Asia and many of the countries to where we are flying. Whether the recovery will be sustainable will come down to a race between Covid variants and vaccine take-up."   


 

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