Sharp fall in THAI’s first quarter profits
Thai International Airways made a net profit Bt3.16 billion in the first quarter, down 47.3 per cent from the same period last year, the national flag carrier reported to the Stock Exchange of Thailand on Monday.
THAI’s operating profit in the first three months of the year came in at Bt28.6 billion, some 60.1 per cent lower than a year ago.
The company attributed the sharp fall to the price of oil rising 45.8 per cent and revenue from the airline’s passenger per unit dropping 12 per cent following a period of intense competition.
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