ALMATY, Kazakhstan--(BUSINESS WIRE)--Air Astana (“the Company”), the leading airline in Central Asia, announces the publication of its consolidated financial statements for the six months ending 30 June 2019 in accordance with International Financial Reporting Standards, reported in US Dollars.*
Key financial and operational highlights
- Total revenue marginally down at USD372.6 million (1H2018: USD386.5 million);
- Operating Profit improved to USD6.8 million versus 1H2018 Loss of (USD11.9 million);
- EBITDAR increased +49% to USD50.0 million (1H2018: USD33.6 million) thanks to high levels of operating efficiency;
- CASK (Cost per Available Seat Kilometre) improved by 7% to US¢5.33 (1H2018: US¢5.73), one of the lowest in the industry;
- RPK (Revenue Passenger Kilometres) marginally down at 4.4 billion (1H2018: 4.6 billion);
- Total number of passengers carried of 2.1 million, up 1%, despite the late delivery of new aircraft by the manufacturer;
- Domestic traffic grew by 9% in the first half, with a particularly strong increase of 20% in the second quarter, reflecting the strong initial performance of FlyArystan which launched in May;
- Delivery of 1 A320 NEO and 2 Embraer E190-E2 aircraft;
- Ranked 12th most punctual mainline airline in the world (OAG Punctuality League 2019);
- Recognised as the Best Airline in Central Asia and India at the Skytrax World Airline Awards for the eighth year running in 2019.
*The Company separately reports its results domestically in Kazakh Tenge. The average exchange rate for January to June 2019 was 379.14KZT/USD, 16% percent higher than the exchange rate of 326.49KZT/USD during the same period of 2018.
Air Astana, the flag carrier of Kazakhstan, achieved an improved financial performance during the first half of 2019. Whilst revenue was marginally down, the Company reported an Operating Profit of USD6.8 million, with EBITDAR up 49% at USD50.0 million, despite a challenging global economic backdrop.
The Company continued to demonstrate its strong cost control, improving CASK by 7% to US¢5.33.
The airline carried a total of 2.1 million passengers during the first half of the year, which was marginally higher than in 2018. Domestic traffic grew strongly by 9% for the six-month period, which included a notable increase of almost 40% in June compared to the same month 2018. This trend is expected to accelerate as a result of the strong traffic contributions from FlyArystan, the recently launched low-cost offshoot of Air Astana.
Full version of the press release is available on: www.airastana.com