Airlines in Kazakhstan reaches record $178.2 million profit

Astana, The Gulf Observer: The profit of air companies in Kazakhstan reached a record 80.5 billion tenge ($178.2 million) in July, according to the Bureau of National Statistics, Data Hub analytical source reported on Tuesday.

The previous record of 73.6 billion tenge ($162.9 million) was set in August last year.

Over the seven months, airlines’ total revenue has reached 418.1 billion tenge ($925.7 million), compared to 276.8 billion tenge ($612.9 million) earned in 2022.

The growth was led by increased passengers, whose number in January-July rose 26.1% to 7.3 million people. In July alone, airlines carried 1.3 million passengers.

Another reason is the rise in prices of air transport services. The cost has surged 48.4% since the beginning of this year, soaring in February by 21.5% and in April by 17.7%. In July, the price of services increased by 4%.