Thai Airways and its subsidiaries have reported Q1
and Q2 2020 results.
Total revenue for the first quarter was THB
38,001 million (approximately THB 31 equals US$1), THB 11,790 million (23.7%) less than the
same period last year.
Expenses amounted to THB 42,609 million, THB 8,010
million (15.8%) less than last year. Thai Airways and its subsidiaries incurred a net loss
of THB 22,676 million, compared to a profit of THB 456 million
during the same period last year.
In the second quarter 2020, the global aviation
industry was even more greatly impacted by the ongoing COVID19
pandemic and the
Civil Aviation Authority of Thailand (CAAT) suspended
international flight arrivals into Thailand. In order for Thai
Airways to maintain its financial liquidity and maximize its cash
flow, the company operated charter and
cargo flights as well as special flights to repatriate Thai
Production traffic (ASK) reduced by 96.5%, passenger
traffic (RPK) decreased by 99.5%, with an average cabin factor
that was 10.3% less that than same period last year at an average
of 74.7%, with a total of 0.08 million passengers, or 98.6% less
than in Q2 2019. Average freight load
factor was 99.9%, 52.8% higher than last year.
The company earned revenue from
cargo operations, special flights, customer airline services, and
THAI Catering consumable products that amounted to THB 2,492
million, THB 40,017 million (94.1%) less than the same
period last year.
During the second quarter, Thai Airways was better able
to control expenses as the board of directors, management, and
employees voluntarily reduced their salaries from April to
December 2020. The companyís total expenses were THB 16,193
million, THB 33,428 million (67.4%) less than the same
period last year. As a result, THAI and its subsidiaries incurred
a net loss of THB 5,353 million, THB 1,525 million (22.2%) less
than in Q2 2019.
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