Thai Airways International Reports Q1 Results

In the first quarter of fiscal year 2010 (1 January - 31 March 2010) Thai Airways International’s total revenues amounted to THB 49,806 million which is an increase of THB 8,536 million or 20.7% from Q1 2009.

 Total expenses, including share of losses from investments by the equity method and finance cost, totaled THB 38,498 million, which is an increase of THB 5,292 million or 15.9%, mainly due an increase in production and increase in average jet fuel price. The net profit was THB 10,724 million or 6.31 Baht per share, which is higher than the THB 7,869 million net profit or 4.63 Baht per share earned for the same period last year. EBITDA was THB 11,469 million.

The global economic recovery, which began since the end of year 2009, enabling the increased air travel and freight demand in the first quarter of 2010. As a result, passenger and freight traffic increased by 17.7% and 54.4%, respectively from last year. Despite demonstrations being held in March 2010, the airline says it has not yet affected passengers this quarter.

As of 31 March 2010, total assets for Thai Airways International Public Company Limited and its subsidiaries were THB 278,063 million, an increase of THB 6,369 million from 31 December 2009. The company’s total liabilities was THB 214,075 million, which was a decrease of THB 4,375 million. The company’s shareholders’ equity amounted to THB 63,988 million, an increase of THB 10,744 million.

For April 2010, THAI’s production or available seat kilometer (ASK) saw a decrease of 2.89% when compared to the same period last year and a decrease of 9.43% when compared to the previous month (March 2010).

THAI’s revenue passenger kilometer (RPK) was 1.49% lower than the same period last year and 17.04% lower than the previous month (March 2010). THAI’s cabin factor was approximately 72.15% or 1.45% higher than the same period last year and 8.4% lower than the previous month (March 2010).

For the period of January – April 2010, THAI’s production or available seat kilometer (ASK) was 7.36% higher than the same period last year and the revenue passenger kilometer (RPK) was 12.94% higher than the same period last year. THAI’s cabin factor was approximately 78.9% or 5.19% higher than the same period last year.

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