Airlines, MINT announce 3rd-quarter and nine-month operation results

Charamporn Jotikasthira, president of THAI, said the airline posted a net loss of Bt1.5 billion for the quarter, compared with a net loss of Bt8.3 billion in same period last year. A major factor in the improvement was decreasing fuel prices, though the airline may maintain its high rate of fuel hedging.
The airline also reported operating results that was Bt836 million in third quarter, Bt3.4 billion lower than in same time last year.
THAI also reported its performance for the first nine months of the year, with net profit of Bt1.5 billion compared with a loss of Bt18 billion during same three quarters last year.
The airline is placing 15 aircraft on the market.
Meanwhile Nuanwan Bhuprasert, chief financial officer of Nok Air, said in a financial statement filed to the Stock Exchange of Thailand yesterday that the airline posted a consolidated net loss of Bt2.1 billion in the first nine months, compared with a net loss of Bt571.8 million in the same period of last year.
In the third quarter, the budget airline showed a net loss of Bt918 million, up from its loss of Bt349 million in the same quarter last year.
On the other hand, Bangkok Airways announced that in the first nine months of 2016 it earned revenue of Bt20.5 billion. 
This was an increase of 10.0 per cent from the similar period last year. Its net profit was reported at Bt2.1 billion, an increase of 20.4 per cent year on year.
Puttipong Prasarttong-Osoth, president of the airline, said that in the third quarter, the company’s revenue was Bt6.6 billion, up by 5.2 per cent from the same period in the previous year. Net profit was reported at Bt680.9 million, up by 15.2 per cent, with profit attributable to the company’s equity holders Bt662.4 million. Earnings per share were Bt0.30. 
Bangkok Airways’ better operating performance was mainly due to increasing passenger numbers, up by 8.9 per cent in the third quarter to 1.4 million. 
Its load factor for the quarter was 70.3 per cent, up by 2.7 percentage points from the same period last year. 
In July, Bangkok Airways launched a non-stop service between Samui and Chengdu, China, with four flights per week. The airline plans to increase the frequency of the Samui-Chengdu route to a daily service in the beginning of 2017. It will also launch a daily non-stop service between Samui and Guangzhou, China, at the beginning of next year.
In the third quarter, the company also increased frequencies on the Bangkok-Sukhothai route from 14 flights a week to 21, and Hat Yai-Phuket from seven to 10 flights per week. This was done partly to enhance efficiency for corporate travellers.
Also in the third quarter, Bangkok Airways received a brand-new ATR 72-600, bringing its fleet to a total of 34 aircraft: 14 are turboprop ATR72-500/600s, and 20 are Airbus A319s/A320s. In addition, there will be one or two new aircraft delivered to the company before the end of the year.
Minor International (MINT), operator of multiple brands hotels and mixed-use businesses, reported net profit of Bt989 million in the third quarter, up from Bt923 million in same period last year. The group’s net profit for the first nine months was Bt5.2 billion, up from Bt3.6 million in same period last year. 
The group’s revenue grew 28 per cent to Bt42.5 billion in first nine months and 26 per cent in the third quarter year on year, while net profit increased by 46 per cent in first nine months and 7 per cent in third quarter. 
In the third quarter, revenue of MINT’s restaurant business increased by 29 per cent year on year. Revenue of its hotels and mixed-used units in the same quarter was up by 28 per cent year on year.
For the nine-month period, hotels and mixed-use businesses accounted for 51 per cent of total revenue and restaurants for 43 per cent. Retail trading and contract manufacturing contributed another 6 per cent.
Asia Aviation, major shareholder of Thai AirAsia, also revealed its financial results for the third quarter. Thai AirAsia achieved total revenues of Bt8.1 billion, up by 12 per cent year on year, and net profit of Bt729.2 million. Average load factor for the period was 84 per cent, up 3 percentage points year on year, with 4.33 million passengers served, an increase of 21 per cent. 
Total revenue for the nine-month period ended September 30 was Bt24.8 billion and net profit was Bt3.3 billion. As a result, AAV had net profit attributable to owners of the parent of Bt396.6 million in the third quarter and Bt1.8 million in the first nine months.
Tassapon Bijleveld, chief executive of AAV and Thai AirAsia, said AAV’s third-quarter earnings were satisfactory as tourism in Thailand during the period grew at a consistent rate and Thai AirAsia launched several new routes. They included Bangkok-Vientiane and Hat Yai-Kuala Lumpur, as well as increased frequency on its Bangkok-Udon Thani route to three flights daily in response to high demand. 
Thai AirAsia ended the quarter with a fleet of 49 aircraft.
In the current fourth quarter, Thai AirAsia is aiming to add more routes to the Indian and CLMV (Cambodia, Laos, Myanmar and Vietnam) markets while also expanding its fleet of Airbus A320s to 51 aircraft by the end of the year. 
In October, Thai AirAsia received its 50th aircraft, its first Airbus A320 Neo, an environmentally friendly model that reduces fuel consumption by up to 15 per cent compared with comparable planes. 
The airline is targeting 17 million passengers served for the entirety of 2016 and an average load factor of 83 per cent for the year.