Air Astana Earns US$37 Million First-Half Pre-Tax Profit
By Kurt Hofmann, ATW Daily News | Jul. 20, 2011
Air Astana posted a pre-tax profit of US$36.9 million for the first half of 2011, up 10.4% over the corresponding period in 2010.
Revenue rose 18% year-over-year to US$346 million as passengers carried increased 18.7%. KC reported that its operating margin during the June quarter was affected by fuel prices that lifted around 33% year-over-year, but said its markets continued to strengthen, resulting in robust revenue growth.
During the period, KC took delivery of the first two of six Embraer 190s it has on order, bringing its fleet to 24 total aircraft. It increased frequencies on all of its central Asia/CIS routes and launched new flights to Samara in southern Russia and Tbilisi in Georgia.
"Regional routes in particular have exceeded expectations," President Peter Foster stated. The airline remains cautious regarding full year earnings because of increased fuel costs and general inflationary pressure. It has completed installation of lie-flat seats in the business class cabins of its Boeing 757 fleet. The same seats will be installed on its 767-300ERs later this year.