Air Astana enjoys record profit

Air Astana reported a $47 million net profit in 2009, a record result for the airline that represented a 176% improvement from the $17 million surplus posted in 2008. Revenue fell 16% to $546 million and the carrier benefitted from an $8.2 million foreign exchange gain. "The result represents the effectiveness of cost-saving measures from mid-2008," President Peter Foster said. "The fact that we were not fuel hedged until April 2009 meant that we took full advantage of price falls. Add to that unit cost savings across the airline, and in particular the dismantling of general sales agency agreements in Kazakhstan and Russia following the implementation of IATA eBSPs in both markets, and the year was very satisfactory in spite of the drop in revenues." Astana currently operates 22 aircraft and plans to take delivery of two E-190s in early 2011.