United Kingdom
United States
Asia Pacific
Air Astana announces first half loss of USD6.6 million
Tuesday, 22 Jul, 2016
0
Falling commodity prices and a weak currency contributed to a loss of US$6.6 million at Air Astana during the first half of 2016.
The Kazakhstan carrier cited weaker demand in regional markets due to commodity price falls and currency devaluation of the Kazakh Tenge.
Passenger numbers fell by 7% to 1.69 million, the airline said.
"The macro-economic environment has been and continues to be extremely challenging for all airlines operating in the region. However we have been able to compensate to a large extent for a steep drop in revenue, particularly on domestic routes, by further reducing unit cost and by substantially increasing international transit traffic between Europe and Asia," said Peter Foster, Air Astana president and CEO.
Foster called the performance ‘better than expected under the circumstances’ however prospects for the rest of the year remain uncertain.
Further development of transit business over our Astana and Almaty hubs continues to be a priority," Foster added.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Exploring Brooklands Museum with Alex Patterson
Global Tourism Challenges and Upcoming Events: A Conversation with Don Welsh
Peebles Barbeque: A Legacy of Flavor and Tradition
Exploring Bok Tower Gardens with Erica Smith
Rue’s Living Water Boat Cruises: Exploring Winter Haven’s Chain of Lakes
Durango and Silverton Railroad: A Timeless Journey Through History and Scenic Beauty
Walt Leger on New Orleans’ Resilience and Major Events Ahead
Cindy Mackin Shares Estes Park’s Winter Thrills
Mark Jaronski of Explore Georgia on FIFA World Cup 2026
Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange
North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
Flight attendant killed during layover in ‘senseless crime’
FBI investigate cruise ship death
Dozens of bodies recovered from DC river after midair collision
Quake warning in Santorini after hundreds of tremors
Trump Admin vows to end cruise tax loophole