Air Astana Group has reported after-tax profit of $78.4 million about 115% higher than 2021. The airline recently released its financial transactions for 2022, calling it the best year ever. The Group’s revenue was 36% higher than 2021 at $1.03bn and closed the year 2022 with 11% more passengers than 2021 at 7.35 million. The airline reported as these figures as the best in the airline’ 20-year history on all three metrics.
Commenting on the results, Peter Foster, President and CEO said: “The group significantly exceeded expectations despite political unrest in Kazakhstan in January and the Russian invasion of Ukraine in February. Revenue loss caused by the closure of routes to, from and over Russia was more than compensated for by increased capacity deployment to Europe, Asia, India, and the Caucasus.”
“FlyArystan has grown by 366% since its inaugural year of 2019. It has a great future, as this region probably has the fastest growing low-cost air travel market in the world today,” Foster added.
Going ahead, although the airline has predicted robust passenger growth, the airline also forecasts headwinds in terms of continued airport and service provider resource and supply chain limitations, technical reliability issues with PW100 engines and general inflationary pressure on all aviation-related resources.