THAI losses narrow
Thai Airways International (THAI) remained in the red in the second quarter of 2012.
The airline’s net loss for the three months to 30 June 2012 totaled THB1.5 billion (US$48.5m), but this marked a significant improvement compared to the THB7.8bn deficit recorded in the same period last year.
Revenues climbed 6.5% to THB48.5bn.
“THAI has constantly implemented its cost reduction programme which could reduce expenses, but repairs to the runway of Suvarnabhumi Airport in June 2012 caused flight delays and increased expenses,” said the airline’s acting President, Chokchai Panyayong. “The results of operations could not turn positive, which was the same as during other low season periods in previous years. However, the operating profit margin for the second quarter over the past five years indicated the improvement trend due to the decreasing loss.”
The airline’s operating performance narrowed to a THB2.7bn loss, compared to THB3.3bn in the previous year.