THAI may miss 2012 revenue target

Acting president Chokchai Panyayong, who is also THAI’s executive vice president of strategy and business development, said after a board meeting yesterday that the revenue target had been set assuming an average cabin factor of 75 per cent. However, the national carrier’s financial performance in the first half of the year missed the target for that period by 3 per cent because of lingering impacts from last year’s flood, which could mean failing to meet the full-year target.
Chokchai insisted he was confident that THAI could meet the second-half revenue target, given that the cabin factor in July surged to 79.8 per cent from 77.2 per cent in the same month last year.
He added that THAI achieved its revenue and profit targets in June and is set to surpass this month’s targets, so it believes that its financial performance in the second half will be positive, thanks to rising passenger numbers and its effective fuel-cost management.
THAI also set a revenue-growth target of 10 per cent per year from 2013 to 2015.
It reported a second-quarter net loss of Bt1.46 billion, an improvement from the Bt7.87-billion loss in the corresponding period last year but weaker than the previous quarter because of higher expenses.