Air Astana net earnings down 7% in 2012

By:  
-
Source:
This story is sourced from Pro
See more Pro news »

Kazakh flag carrier Air Astana has posted an unaudited profit after tax of $57.2 million in 2012, down by 7% year on year.

Total revenue for the year to 31 December 2012 grew by 16% to $870 million against a capacity increase of 14%.

The airline took delivery of two Airbus A321s, one Airbus A320 and two Embraer 190s, purchased via export credit finance leases, and retired its entire fleet of Fokker 50 aircraft.

Air Astana president Peter Foster says: "The full year proved much better than expected after a difficult first half in which profit fell by more than 80%."

"In the second half, strength of CIS [Commonwealth of Independent States] 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," adds Foster.