Air Astana posts $2.7 million loss despite revenue growth

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Kazakhstan’s flag carrier Air Astana reported a net loss of $2.7 million on revenue of $1.29 billion for the first nine months of 2026, while posting a profit of $18.5 million in the third quarter. The results were weighed down by expenses per passenger rising faster than revenue.

Air Astana reported its financial results for the third quarter and the first nine months of 2026. The company posted strong revenue, but higher fuel prices and engine-related issues weighed on its profitability.

Over the first nine months of 2026, the company’s revenue rose 18% to $1.29 billion. Third-quarter revenue grew even faster, increasing 20.6% to $529 million.

At the same time, the company reported a net loss of $2.7 million for the first nine months of the year, compared with a profit of $31.2 million a year earlier. In the third quarter, Air Astana posted a profit of $18.5 million, down from $20.6 million in the same period last year.

The company’s performance was affected by costs per available seat kilometer (CASK) rising faster than revenue per available seat kilometer (RASK). Over the first nine months, RASK increased 15.9% year on year to 7.48 cents, while CASK rose 21.3% to 7.15 cents. In the third quarter, the gap between RASK and CASK growth rates narrowed, with the former increasing 16.0% and the latter 20.0% year on year.

Cost pressures continued to stem from high fuel prices at international airports and the ongoing impact of Pratt & Whitney engine issues.

Meanwhile, the carrier is expanding its presence in China and increasing its capacity in the market. In October, Air Astana signed an agreement with China Southern Airlines to establish a joint venture. The carrier’s capacity on Chinese routes nearly doubled in the third quarter, increasing 99% year on year. Air Astana operated up to 53 flights a week across 14 routes covering eight destinations.

Engine-related issues are also gradually being addressed. In the third quarter, progress was driven by an increase in the number of engines undergoing maintenance, shorter repair times and improved reliability. The number of grounded aircraft was approximately 60% lower year on year.

Air Astana’s financial results also include those of its low-cost subsidiary, FlyArystan.