Forex gain boosts THAI's earnings
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Thai Airways International showed the consolidated operating profit of Bt4.44 billion in the first quarter of this year, up 3.9 per cent or Bt180 million from the same period last year.
The company attributed the slight decline to the weaker revenue earned from cargo services but the expenses side rose due to increased traffic production, payment of staff performance incentive and accrued annual welfare.
Profit before foreign currency exchange and income tax was Bt1.9 billion, a decrease of Bt3 billion or 61.3 per cent from last year.
Thanks to the appreciation of the Thai baht against major currencies, THAI showed the forex gain of Bt6 billion in the quarter.
