Thai Airways narrows 2Q loss to $48.4 million

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Published: August 16, 2012

Thai Airways 747-400. By Rob Finlayson

Thai Airways International (TG) has reported a second-quarter net loss of THB1.53 billion, ($ 48.4 million), narrowed from THB7.9 billion in the year-ago quarter.

“When compared to the same period last year, TG’s cabin factor indicated an excellent cabin factor result for the low season period. Unfortunately, TG was still subjected to an unfavorable world economic situation and intensified competition,” the carrier said in a statement.

TG’s consolidated second-quarter total revenues were THB48.5 billion, up 6.5% from last year.  TG’s consolidated total expenses, excluding foreign currency exchange gains, were THB51.23 billion, down 0.6% year-over-year.

TG and its subsidiaries also recorded a foreign exchange gain of THB1.3 million compared to last year when TG lost THB2.3 billion. Consequently, TG and its subsidiaries reported a loss before foreign currency exchange and income tax of THB2.8 million.

This indicated a better performance when compared to last year where losses of THB5.9 billion were reported, the carrier said.

TG’s first-half profits were THB2.2 million.   

Looking ahead, the company warned it may not meet a full-year profit target of THB6 billion ( ATW Daily News, June 6 ).

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