Air Astana net profit for 2015 increases by 144%

Monday 18th January 2016

Air Astana has reported a net profit (unaudited) for 2015 of $47.4 million, an increase of 144% over 2014.  It is the Kazakhstan carrier's 13th yearof profitability.  Passenger numbers for the year increased by 2% to 3.86 million, whilst capacity increased by 6%. Total revenue fell by 21% from $933 million to $738.1 million.

Commenting on the results, Air Astana President & CEO Peter Foster stated: "A sharp fall in revenue was more than compensated for by significant cost savings, including, though not limited to, jet fuel savings.  In spite of extremely challenging local and regional market conditions we were able to grow capacity and add new routes to Paris, Seoul and Tbilisi in 2015."

Commenting on the prospects for 2016, Peter Foster said that he expects markets to continue to be weak. "Currency and commodity price weakness are ongoing challenges. We don't expect great things from 2016, but with our cost base now amongst the lowest of any full service airline in the world, we expect to be well placed to take advantage when markets improve. We expect to add new routes to Tehran and Ulaanbaatar this year, and will take delivery of our first Airbus A320neo mid-year. 2016 will be about keeping our nerve, biding our time, and preparing for the recovery which we expect will come in 2017."

About Air Astana

Air Astana commenced regular flight operations on 15 May, 2002 and currently operates a network of 64 routes between 39 international and domestic destinations.  Air Astana operates a fleet of 30 aircraft including three Boeing 767-300ER, five Boeing 757-200, thirteen Airbus A320 family aircraft and nine Embraer E-190s.

Air Astana became the first carrier from Russia, the Commonwealth of Independent States (the CIS) and Eastern Europe to be awarded the prestigious 4-Star rating by Skytrax in its World Airline Awards 2012 and was named The Best Airline in Central Asia and India.  Both accolades were repeated in 2013, 2014 and 2015. In February 2015, Air Astana received the prestigious Air Transport World Market Leader Award.

Air Astana is a joint venture between Kazakhstan's national wealth fund, Samruk Kazyna, and BAE Systems, with respective shares of 51% and 49%.