Air Astana delivers record US$97.7m operating profit in 2014

Air Astana, Kazakhstan’s flag carrier, has reported an operating profit of US$97.7m in 2014, an increase of 35% over 2013 and the highest in the company’s 13 year history. Net profit fell by 62% to US$19.3m owing to a one-off revaluation of external debt of US$49m caused by the devaluation of the Kazakh tengue by 19% in February. Passenger traffic rose by 3% to 3.8 million, whilst revenue fell by 3% to US$932.9m. Air Astana is a joint venture between Kazakhstan’s national wealth fund Samruk Kazyna and BAE Systems, with respective shares of 51% and 49%.