Air Astana operating profit up 11% after first nine months

Operating profits at Kazakh carrier Air Astana Group are running 11% ahead of 2022 levels after the first nine months of the year, on the back of revenue that is up one-fifth. Group revenue climbed 20%, to $900m, over the nine months to end-September. Air Astana Group, which also includes fast-growing low-cost unit FlyArystan, flew 6m passengers at a load factor of 84% over the period – increases of 12% and one percentage point, respectively, against the same period of 2022. This helped it lift operating profit by 11% to $129m, and overall profit 19% to $72m, for the first nine months of the year. Air Astana Group chief executive Peter Foster says: ”The group has continued to perform well in 2023, despite the twin headwinds of high inflation and continued issues with the Pratt & Whitney PW1100 engines on the Airbus Neo fleet. All markets have shown robust growth, and there is little indication that the strong demand which we have experienced since mid-2021 is flagging. ”The group’s Central Asian and Caucasus routes have benefited from the increased footprint of both Air Astana and FlyArystan into those countries, most of which are experiencing a significant increase in both business and leisure travel. Routes to East and South Asia have also performed well, including those to China, which are gathering pace after a slow start following the country’s reopening from Covid.”<br/>