Air Astana anticipates a prosperous 2024, with robust growth in passenger numbers and capacity amidst sustained demand for air travel. Despite volatile market conditions, the airline has demonstrated resilience, achieving significant milestones in various operational and financial aspects. “We are...
To read the full article, please log in or enter your email below:
Air Astana anticipates a prosperous 2024, with robust growth in passenger numbers and capacity amidst sustained demand for air travel. Despite volatile market conditions, the airline has demonstrated resilience, achieving significant milestones in various operational and financial aspects.
“We are pleased to report our first set of results as a public company following our successful IPO across three stock exchanges last month. Air Astana delivered another strong year of growth in 2023 with record passenger numbers and increased capacity,” said Peter Foster, CEO of Air Astana Group in the airline's press release on Friday (Mar. 15). “All our markets continue to perform well and we have demonstrated our ability to grow the business and maintain sector-leading margins while managing cost headwinds across the industry. As [a] result, the Group EBITDAR excluding EME and FH has continued to expand by another 16% in 2023.”
“The IPO proceeds will enable us to further expand our operations and increase our carrying capacity. We are well positioned to capture the growth opportunities from developing the underserved aviation market in Kazakhstan and improving international connectivity,” he added.
Financially, Air Astana recorded total revenue and other income of USD 1.2 billion, marking a notable 13.8% increase compared to the previous year, rising to an impressive 15.6% when excluding extraordinary market events. Operating profit surged to USD 136.0 million, a 12.9% increase when excluding extraordinary market events and fuel hedging gains. Similarly, profit after tax saw a positive surge, reaching USD 68.7 million, indicating significant growth of 21.5% when excluding extraordinary market events and fuel hedging gains.
Operationally, the airline made commendable progress, with revenue passenger kilometres (RPK) rising by 11.3% to 14.6 billion and available seat kilometres (ASK) increasing by 11.1% to 17.7 billion. Additionally, revenue per available seat kilometre (RASK) experienced a modest increase, reaching US 6.6 cents, or 4.0% when excluding extraordinary market events.
Air Astana's expansion efforts were highlighted by a record number of passengers carried, totalling 8.1 million, representing a 10.1% increase from the previous year. The fleet size also grew to 49 aircraft, facilitating network expansion to key destinations such as Turkey, India, Thailand, Uzbekistan, Georgia, the Gulf, and China. The airline’s fleet is also projected to increase to at least 56 aircraft by the end of 2024
Moreover, the airline enhanced its international network with new routes to Jeddah and Doha, alongside FlyArystan's seasonal routes from regions to Antalya and Dubai. Operational efficiency remained high, with adjusted EBITDAR increasing by 4.3% to USD 300.8 million, and adjusted EBITDAR margin maintaining stability at 25.6%.
The airline’s solid financial position was evident with cash reserves amounting to USD 274.0 million, and lease liabilities decreasing to USD 718.9 million despite fleet growth. Its commitment to operational excellence was further underscored by achievements such as an on-time performance (OTP) of 79.5%, and multiple accolades including the Skytrax Awards for "Best Airline in Central Asia and CIS" and "Best Service in Central Asia and CIS" for Air Astana, and "Best low-cost carrier in Central Asia and CIS" for FlyArystan. Additionally, investments in infrastructure, such as the new Flight Training Centre in Astana, demonstrated the airline's dedication to maintaining high standards of safety and service quality.
AARONIA AG presented its latest advancements in drone detection and electronic warfare at Enforce Tac 2025, held in Nuremberg from…
Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines and Firefly, has signed a Memorandum of Understanding (MoU) with…
The Business Aviation Asia Forum & Expo (BAAFEx) is set to hold its inaugural edition from 4–6 March at Singapore’s…
PT Dirgantara Indonesia (PTDI) and Dassault Aviation have inaugurated the Dassault Aviation-PTDI Design Office on the fourth floor of PTDI’s…
L3Harris Technologies and Shield AI will collaborate on a demonstration to enable an electronic warfare (EW) operation with AI-enabled unmanned…
The Spanish Air and Space Force has said that it sees, the 'Hürjet' training aircraft as well positioned to replace…
Total passenger demand, measured in revenue passenger kilometers (RPK), was up 10.0% in January this year compared to the same…
Pratt & Whitney's GTF Advantage engine has achieved U.S. Federal Aviation Administration (FAA) type certification for the Airbus A320neo family.…
The Israeli Air Force (IAF) will receive the two first Boeing KC-46A aerial refueling aircraft in 2026 . The other…
Israel Shipyards has begun the construction of the first of five Reshef class warships for the Israeli Navy. The 2.8…
Russia has accelerated efforts to incorportate laser technology to some of its operational air defence systems. As part of continuous…
Kratos Defense & Security Solutions and Rafael Advanced Defense Systems on Thursday announced an approximate 50/50 partnership for the establishment…
Defence trade fair Euro Defence Expo (EUDEX) and the annual conference of the NATO Joint Air Power Competence Centre (JAPCC)…
Ramco Systems, a global aviation software provider has announced the successful implementation of its Aviation Software at Philippine Airlines for…
Singapore’s Ministry of Defence has announced that Brigadier-General (BG) Cai Dexian, currently Commander, 3rd Singapore Division will take over from…
Lockheed Martin has showcased a new counter-unmanned aerial system (C-UAS) solution in a recent field demonstration, highlighting its ability to…
The Indonesian Navy (TNI Angkatan Laut / TNI AL) has launched the service's second Bung Karno-class corvette, KRI Bung Hatta…
ASELSAN recorded revenues of 120 billion TL (over 3.2 billion USD) in 2024, marking a 13% increase from the previous…
ITA Airways and Lufthansa Group have initiated a codeshare agreement, linking their route networks for the first time. This arrangement…
Chemring has provided a trading update ahead of its annual general meeting, reporting a record order book of £1.35 billion…
TransNusa is set to become the first Indonesian airline to operate scheduled flights between Bali and Guangzhou. The airline will…
ANA Holdings and CFM International have announced an order for more than 75 LEAP engines, including both installed and spares.…
General Atomics Aeronautical Systems, Inc. (GA-ASI) recently demonstrated the first-ever Anti-Submarine Warfare (ASW) capability on an MQ-9B SeaGuardian. In a…
The French Defence Procurement Agency (DGA) has awarded the third phase of the Naval Force IP Network (RIFAN 3) contract…
Indonesia is proceeding with its plan to acquire Russian-made Sukhoi Su-35 fighter jets, according to Brigadier General TNI Frega Wenas,…
All Nippon Airways (ANA) Holdings Inc. has placed an order for 15 Embraer E190-E2 aircraft, with options for an additional…
Gebrüder Weiss, an Austria-based international transport and logistics company, has expanded its transport and logistics services in Poland, introducing national…
Semi Conductor Devices (SCD) has secured an order for hundreds of its Crane Mid-Wave Infrared (MWIR) detectors from a leading…
ELT Group has renewed its strategic partnership with the UAE by signing a Letter of Intent (LOI) with EDGE at…
EDGE and Fincantieri have signed a new Memorandum of Understanding (MoU) that extends and builds upon an earlier agreement in…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2025 GBP all rights reserved.