Thai Airways International (THAI) has posted a THB7.87 billion (US$262.7 million) net loss for the second quarter of 2011. The company cited a THB2.27 billion loss from currency exchange, the impact of the Japan disasters, and a THB5.57 billion increase in its fuel bill for the poor result. THAI’s passenger traffic actually increased 13.2%, but this was largely due to a poor comparison period in 2010 when Thailand was hit by political unrest. Cabin factors averaged just 66.4% in Q2 2011.
For the first six months of 2011, THAI posted a net loss of THB7.26 billion, compared to a net profit of THB11.97 billion in the same period last year.