Central Asia’s largest airline group Air Astana JSC and its subsidiary FlyArystan has released its financial results for the quarter which ended on 31st March.
What was particularly notable was that Air Astana registered strong revenue and EBITDAR growth in a season that is traditionally seen as a weak one.
Indeed, the airline group’s total revenue and other income rose by 10.4 percent to US$292.4 million compared to where it was in the same period in 2024.
Likewise, EBITDAR increased 37.1 percent to US$59.9 million, significantly higher than the US$43.7 million seen at the end of Q1-2024.
EBITDAR margin improved by 4.0pp to 20.5 percent, while ASK went up 13.5 percent to 4.7 billion, and RPK increased 13.9 percent to 3.8 billion.
At the same time, unit revenues continue to be managed ahead of unit costs, extending the positive trend from Q4-2024 despite the seasonally weaker quarter.
Seasonal effects
RASK decreased 2.7 percent to US$6.23¢, partly because of fare increases which were made to reflect the Tenge depreciation, being phased in during the first quarter though the full effect of fare adjustments will be recognised from Q2 onwards.
In addition, the quieter Ramadan period fell entirely in Q1 this year and, thus, will have no effect on financials in the ongoing second quarter.
CASK went down by 5.7 percent to US$6.09¢, driven primarily by lower fuel costs and the reduction in Tenge denominated costs.
However, group passengers carried aboard were up 7.1 percent, closing at two million at the end of the first quarter, 0.3pp improvement in average load factor to 81.5 percent.
A positive beginning
Air Astana Group CEO Peter Foster remarked that the findings show how the airline had a positive start to 2025, spurred on by the addition of popular new routes, increased carrying capacity, and improved profitability.
Foster declared: “These results were achieved despite the Tenge depreciation and earlier Ramadan this year, driven by particularly strong international growth across key markets in Asia. Our network is growing with 15 new routes launched in 2025 to several popular business and lifestyle destinations. These flights have been added where demand is strongest, building on the 21 new routes launched last year across growth regions such as Vietnam and the Gulf. We are also improving connectivity with the two global mega markets on our doorstep.”
Foster further pointed out that the airline commemorated two decades of service between Kazakhstan and India with the launch of a new service from Almaty to Mumbai, India’s commercial capital.
For May 2025, Air Astana is slated to add Yining as its fifth destination in China.
Foster said: “The MoU signed with China Southern Airlines for a comprehensive set of codeshares, creates additional opportunities for tourism, business cooperation, and enhanced cultural ties between Kazakhstan and China, and will strengthen our foothold in this important mega market and be a growth driver for Air Astana.”
Furthermore, Air Astana has expanded its fleet to 60 units, thanks to the delivery of five A320 family aircraft at the beginning of this year.
Likewise, two of the three remaining E2s have now been phased out, largely concluding the airline’s fleet simplification plan.
