Air Astana profits slip in 2012
Air Astana has reported a post-tax profit of US$57.2 million for 2012, 7% down on 2011.
The Kazakhstan national carrier’s total revenue increased 16% to US$870m, but high fuel prices and a difficult first half of the year hit the carrier’s results.
“The full-year proved much better than expected after a difficult first half in which profit fell by more than 80%,” said Air Astana’s President, Peter Foster. “In the second half, strength of CIS markets, the strong performance of new services to China and Hong Kong, and non-fuel savings have made up most of the difference and offset to some extent higher fuel prices, though margins have fallen. We expect 2013 to be another mixed year with continued cost pressure, though at present markets remain stable.”
The airline’s capacity increased 14% in 2012, as it took delivery of two Airbus A321s, one Airbus A320 and two Embraer E190s, while retiring its entire fleet of Fokker 50s. It also launched several new routes, including its first ever services to Hong Kong.