Financial Round Up
Air Astana: profit decline
January 27th 2015
Kazakhstan-based Air Astana, the newest member of the Association of Asia Pacific Airlines (AAPA), reported a net profit of $19.3 million in 2014, down 62% compared with a year earlier. Read More » According to Air Astana, the profit decline was the result of a one-off revaluation of external debt of $49 million following the 19% devaluation of the Kazakh tenge by 19% in February 2014. The airline reported a $97.7 million operating profit for the year, up 35% over 2013 and the highest in its 13-year history. However, revenue fell 3% to $932.9 million, while passenger traffic rose 3% to 3.8 million. Load factor figures were not released.
