Air Astana eyes China routes after record passenger traffic
Kazakh flag carrier Air Astana has reported half-year record passenger numbers, driven by unexpectedly high demand for its Chinese routes.
Some 4m passengers flew with the London-listed airline in the six months ended 30 June, up 14.6 per cent year-on-year and at a load factor of 82 per cent.
The growth in demand helped total revenue rise 12.8 per cent to $586.2m (£459m). Adjsuted earnings before interest, taxation, depreciation, amortisation and restructuring (EBITDAR) rose 11.5 per cent year-on-year to $88.7m (£69.5m).
Peter Foster, Air Astana chief executive, said: “Our team delivered a robust performance in the first half of 2024 against a backdrop of inflationary cost pressures across the sector.”
Foster said development of the carrier’s fleet was progressing “ahead of schedule” and he expected three more planes than originally planned by the end of 2024.
The increase comes despite ongoing issues with the airline’s Pratt and Whitney-manufactured geared turbofan (GTF) engines, many of which have been recalled for inspection.
“This increased capacity is one of several actions to mitigate off-wing time from Pratt & Whitney engines and enable us to meet rising demand for air travel across Kazakhstan and Central Asia. We also continue to expand the network and strategically allocate capacity to important growth regions such as China and South Korea.”
He added: “With passenger numbers at record highs and a strong booking curve for the third quarter, we are well positioned for the peak summer season.”
Such a focus on routes in the Far East is the latest signal of the challenge facing Western aviation.
In an interview with Morning Wire, the boss of Istanbul Airport said the sector’s “centre of gravity” was moving eastward, with a number of airlines and hubs in the Middle East and China likely to overtake Western competitors.
In 2023, Asia-Pacific airlines posted a 126.1 per cent rise in full-year international traffic, according to IATA, compared with a a 22 per cent climb for European carriers.
Air Astana’s listing on London’s public markets earlier in the year was hotly anticipated amid a dearth in new entries to the capital’s embattled bourse.