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 ...