THAI reports higher Q1 earnings
Play
Thai Airways International reported the first-quarter consolidated net profit of Bt6 billion, an increase from Bt4.5 billion a year earlier.
The company attributed the better performance to the business restructuring plan as well as a sharp decrease in jet fuel cost.
The quarterly revenue decreased by 2.7 per cent on year to Bt50.18 billion, the airline said in the filing to the Stock Exchange of Thailand. THAI said in the quarter it operated with 95 planes, down by 9 from the same quarter a year earlier. Though the number of passengers dropped by 1.8 per cent on year, the cabin factor increased from 75.4 per cent to 77.5 per cent.
Meanwhile, jet fuel cost also dropped by 25.1 per cent on year to Bt3.64 billion. Non-fuel expenses also declined by 1.7 per cent to Bt524 million, partly due to cost-cutting measures.
