- Joe Breitfeller
Air Astana Reports Strong Start to the New Year After $94 Million 2020 Loss
Air Astana reported that their combined January and February financial results are the strongest since 2017, after reporting a $94 million loss for 2020, largely attributable to the pandemic.
On Monday (March 1, 2021), Air Astana reported a strong start to the new year with combined financial results for January and February at the highest level since 2017. For 2020, the airline lost $94 million, largely attributable to the pandemic and associated decline in capacity and revenue of 47 and 55 percent respectively. Passengers carried for 2020 decline year-over-year by 28 percent to 3.7 million. Commenting on the carrier’s 2020 financial results, Air Astana’s President & CEO, Peter Foster, said,
“Whilst the devastating effect of the pandemic on international travel needs no elaboration, the airline is resilient. Domestic air travel recovered strongly from May, and our low cost carrier FlyArystan recorded 110% passenger growth. Cargo had a good year, helped by the conversion of a Boeing 767 into an all-freight configuration, and the partially-restored international network, together with new leisure routes, recorded improved yields and load factors in the final weeks of the year. We are seeing these trends continue into 2021, hence the improved outlook for this year.”
Over the last few months, Air Astana has restored service to Moscow, Dubai, Tashkent, Frankfurt, Seoul, Bishkek, Kyiv, Istanbul, Antalya and Sharm El Sheik. The airline has also launched new service to the Maldives, Mattala (Sri Lanka) and Hurghada (Egypt). During 2020, Air Astana retired their Boeing 757 and Embraer 190 fleets and now exclusively operates Airbus A321LRs and late model Boeing 767s on major international routes.
Source: Air Astana