Thai Airways reports net profit for Q4

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By admin March 1, 2016 22:04

Thai Airways reports net profit for Q4

Thai Airways International has reported a return to profit during the fourth quarter. Net profit was 5.4 billion baht ($151 million) for the October-December period, compared to a net loss of 6.2 billion baht a year earlier.

President Charumporn Jotikasthira has pledged to continue cost cutting and expanding its customer base during this year, and announcing it would spend 2 billion baht ($56.1 million) on voluntary retirements this year, on top of the 5 billion baht paid out last year.
Load factor is also forecast to rise to 80 percent in 2016 from 72.9 percent in 2015, as Thai Airways adds new routes to Russia and Southeast Asia this year, and resume flights to the United States next year.

For 2015, the airline posted a net loss of 13 billion baht ($364 million), narrower than the 15.6 billion baht net loss in 2014. Total operating revenue fell 1.2 percent last year to 188.7 billion baht, while operating expenses dropped 11.2 percent, it said in a statement. Revenue is expected to fall 4.6 percent over the next 12 months.

admin
By admin March 1, 2016 22:04