Thai Airways reports Q2 losses

admin
By admin August 19, 2014 14:38

Thai Airways reports Q2 losses

Thai Airways has reported a second-quarter net loss of THB7.7 billion ($241 million), reduced from a net loss of THB8.4 billion in Q2 2013.

The airline attributed its continued negative performance to the ongoing political unrest that has resulted in a marked decline in foreign tourism. It said the number of foreign tourists arriving at Bangkok’s Suvarnabhumi and Don Muang international airports was down 22.6% year-on-year.

In addition, the airline faces intense competition from the region’s low-cost sector.

Total operating revenue for the quarter was THB42.8 billion, down 9.2% year-on-year. Second-quarter operating losses deepened to THB6.4 billion from THB2.9 billion in Q2 2013.  Total operating costs decreased 1.7% to THB49.2 billion, but Thai Airways said fuel and oil expenses were 1.4% higher than last year, largely due to the weakness of the Thai baht, and accounted for 35.8% of total costs.

Second-quarter passenger numbers fell 17.3% to 4.23 million. ASKs were down 4.9% to 19.9 billion and RPKs decreased 14.3% to 12.6 billion. Load factor declined 7 points to 63.5%. However, passenger yield increased 5.1% and total yield was up 1.1%.

admin
By admin August 19, 2014 14:38