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Thai International turnaround reflected in latest results

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Thai Airways International has improved its financial position, reporting an operating loss of THB 1.78 billion in the second quarter, THB 2.93 billion less than the same period last year.

The improvement has been attributed to ongoing corporate restructuring measures and lower jet fuel expenses, Bangkok’s Nation newspaper reported.

Fuel expenses in the quarter dropped by THB 3.18 billion or 21.3% year on year. Non-fuel expenses fell by THB 184 million or 0.6%.

The airline reported the net loss of THB 2.9 billion in the quarter, a big improvement over the net loss of over THB 11 billion in the same quarter last year.

Quarterly passenger traffic (Revenue Passenger-Kilometres – RPK) fell 0.6% due to lower demand within Asia – but RPKs increased to Australia and Europe. Thai Smile traffic also grew. Load factor factor stayed at 69%.

THAI currently operates a fleet of 94 aircraft.

Edited by William Sykes