THAI seasonally slow but steady in Q2 2010

first_imgSource = e-Travel Blackboard: C.C Thai Airways International (THAI) has released its financial results for the second quarter of 2010, reporting a seasonal slow period that was still comparatively better than the same quarter in 2009. The airline noted Iceland’s volcano eruption as a leading factor for the slowness, which reduced passenger numbers. Passenger numbers travelling to and from Thailand were adversely affected by the domestic political unrest. Consequently, the average cabin factor was 64.6 percent, as opposed to the slightly healthier 66.2 percent posted for the same period last year. THAI reported that its freight load factor was considerably higher at 64.8 percent compared to 48.5 percent in Q2 2009. This was spurred by the global economic recovery and the associated increase in exports and import demand. The airline posted total revenues of THB 39.6 million, a THB 5 million or 14.5 percent increase over Q2 2009. Total expenses were up 10 percent mainly due to a 46.6 percent increase in average jet fuel price. A favourable gain on foreign currency exchange fostered a net profit of 0.91 baht per share, compared to the net loss of 3.18 baht per share during the same period last year.According to the company website, THAI’s fully paid up share capital amounts to 17 billion baht (9 May 2005) and is 53.8 percent owned by the Ministry of Finance, the Thai Government.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *