Airline says 10.7% revenue increase in first quarter reflects strong passenger numbers
Published: May 10, 2024 16:54
Thai Airways International announced on Friday that its consolidated net profit for the first quarter was 2.43 billion baht, down 80.7% from 12.5 billion baht in the same period last year.
in a statement The national airline announced to the Stock Exchange of Thailand that sales increased 10.7% year-on-year to 45.9 billion baht, but profits decreased due to increased expenses, resulting in a 22.5% increase to 34.9 billion baht. Ta.
The company said the increase in expenses reflected an increase in the number of flights, routes and passenger numbers, a weaker baht, higher ground handling charges and higher raw material costs.
Passenger revenue was 3.54 billion baht, an increase of 10.1%, reflecting an increase in flights due to the 2023-24 winter schedule.
According to Thai Airways International, the number of passengers in the first quarter was 3.88 million, an increase of 10.2% from the same period last year. Average room occupancy was 83.5%, similar to last year, but above the industry average of 80.8%.
The company expects full-year sales of about 180 billion baht and average passenger load factor of 75%.
Thai Airways currently operates 73 aircraft, up from 70 in Q1 2023. The airline said it was negotiating the sale of 18 aircraft and had completed the sale of six. A deal to sell six Boeing 777-300s and six Airbus A380s is expected to be signed soon.
The company said it has discontinued its turnaround plan and still plans to relist on the SET in 2025.
Airline says 10.7% revenue increase in first quarter reflects strong passenger numbers
Published: May 10, 2024 16:54
Thai Airways International announced on Friday that its consolidated net profit for the first quarter was 2.43 billion baht, down 80.7% from 12.5 billion baht in the same period last year.
in a statement The national airline announced to the Stock Exchange of Thailand that sales increased 10.7% year-on-year to 45.9 billion baht, but profits decreased due to increased expenses, resulting in a 22.5% increase to 34.9 billion baht. Ta.
The company said the increase in expenses reflected an increase in the number of flights, routes and passenger numbers, a weaker baht, higher ground handling charges and higher raw material costs.
Passenger revenue was 3.54 billion baht, an increase of 10.1%, reflecting an increase in flights due to the 2023-24 winter schedule.
According to Thai Airways International, the number of passengers in the first quarter was 3.88 million, an increase of 10.2% from the same period last year. Average room occupancy was 83.5%, similar to last year, but above the industry average of 80.8%.
The company expects full-year sales of about 180 billion baht and average passenger load factor of 75%.
Thai Airways currently operates 73 aircraft, up from 70 in Q1 2023. The airline said it was negotiating the sale of 18 aircraft and had completed the sale of six. A deal to sell six Boeing 777-300s and six Airbus A380s is expected to be signed soon.
The company said it has discontinued its turnaround plan and still plans to relist on the SET in 2025.