Travel Industry News at TravelNewsAsia.com since 1997. Interviews, podcasts, videos, pictures and more
Thu, 25 February 2021

Optimism from Thai AirAsia CEO as AAV Reports Net Loss of THB 4.7 Billion

(25 Feb 2021) Asia Aviation (AAV), the major shareholder of Thai AirAsia, has reported a Q4 2020 revenue of Baht 4,158.6 million and a net loss of Baht 1,114.4 million (1.1 billion Thai Baht equals approximately US$36.5 million).

The loss was partially caused by the impairment on right-of-use assets equating to Baht 1,416 million. Thai AirAsia was EBITDA positive in the quarter, excluding the fuel hedging loss of Baht 799 million.

Domestic flight services performed exceptionally well in Q4 2020 with Thai AirAsia operating 107 percent of the number of seats it did in the corresponding period in 2019, prior to the global COVID19 outbreak.

Thai AirAsia Airbus A320 reg: HS-BBJ. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.

During the quarter, Thai AirAsia achieved a load factor of 74 percent, carrying 2.81 million guests which was 51 percent higher than in the preceding quarter.

Santisuk Klongchaiya, Chief Executive Officer of Asia Aviation and Thai AirAsia, said, The 4th Quarter of 2020 revealed strong signs of recovery for the tourism and travel industries, in particular as Thai AirAsia was able to return 70 percent of its fleet to service and saw an uptrend in its load factor with almost 80 percent in November.

"The achievements in Q4 2020 affirm that once the situation improves, Thai AirAsia will be ready to seize the huge opportunity with the public eager to travel again as soon as the situation improves especially with the rollout of vaccination programmes in Thailand and the region.

Thai AirAsia has also been aligning with the group to develop new business avenues such as food and beverage delivery, cargo business and enhancing the airasia super app into more than just an airline, transforming it into a one stop digital travel and lifestyle super app, with numerous new products and services."

Overall in 2020, Thai AirAsia served 9.49 million passengers with a full year load factor of 75 percent as targeted. AAV posted a total revenue of Baht 16,237.3 million, with a net loss of Baht 4,764.1 million.

Thai AirAsia has continued to develop and expand its customer base. In addition to operations at Don Mueang (DMK), the airline has added a flight base at Suvarnabhumi Airport (BKK) to become the only carrier to operate flights out of both Bangkok airports.

The company has also undertaken a staff reduction exercise by allowing staff to go on unpaid leave or furlough schemes. It has also reviewed its airport operational costs including discounts on landing and parking charges as well as air navigation fees.

"We are confident that in 2021, once the COVID19 situation alleviates and vaccination programmes are widespread, the tourism and aviation industries will bounce back and that international flights will gradually resume by the year-end," said Mr. Santisuk. "Thai AirAsia is ready to boost travel and tourism, and stimulate the economy while maintaining its stringent health and hygiene measures. We are confident of maintaining our market share while expanding in the logistics sector, in particular, our cargo services, in support of the transport of vaccines domestically and regionally. We are in the midst of fundraising to improve the companys liquidity position including exploring a soft loan, debt, or issuing new shares."

See latest Travel Industry News, Video Interviews, Podcasts and other news regarding: COVID19, Thai AirAsia, AirAsia, Thailand.

Headlines: Accor to Open Australia's Second Mövenpick Hotel in May  Bangkok Airways Waives Rebooking Fees  Onyx Hospitality Opens Group's First Shama Resort  Malaysia Airlines Group to Reduce CO2 Emissions by 25m Tonnes in 2021  Qatar Airways to Launch Sea-to-Air Transfers from Shenzhen to HKIA  Derazona Helicopters Orders Airbus H160 Helicopter  Marriott Partners with Scholars of Sustenance for Rescue Kitchen in Phuket  Tourism Cares Expands Board of Directors  Hyatt Opens First Andaz Resort in Asia  Saudi Arabia Hosts UNWTO's 9th Global Tourism Crisis Committee  Boeing Warns Airlines of Potential Issue with Some 737 MAX Aircraft  BA CityFlyer to Launch Flights to Jersey and Gibraltar from LCY  Emirates to Celebrate UAE's Vaccination Programme with Special Flight  Air Astana Launches Meet & Greet Service at ALA, NQZ and FRA  Embraer Publishes Info on Using Business Jets to Transport Vaccines  Messe Berlin 'Very Pleased' with Inaugural ITB India; Dates Set for 2022  Tigerair Taiwan Takes Delivery of First Airbus A320neo Aircraft  Phoenix Aviation to Promote Hua Hin Airport to Regional Markets  Banyan Tree Signs Second Dhawa Resort in Vietnam  Thai Airways to Operate International Flights to 10 Destinations in April  Airbus and TNO to Develop Aircraft Laser Communication Terminal  Mandarin Oriental Lago di Como to Reopen 15 April  Smiths Detection to Upgrade Heathrow's Cabin Baggage Screening  Thomas Cook Opens Outlet in Varanasi, India  Etihad Airways Launches Flights to Ben Gurion Int. Airport in Tel Aviv  No Indication of a Recovery in Demand for International Air Travel  Singapore Airlines Migrates to Sabre's New Crew Manager Solution  VistaJet Orders 10 More CL350s; Takes Delivery of First Two Global 7500s  Qatar's First Marriott Executive Apartments Open in Doha  Marc Speichert to Join Four Seasons as CCO and EVP  Leslie Chiyoma Appointed GM of Grand Park Otaru in Hokkaido  Global Air Cargo Demand Up 9% on Pre-COVID Levels  Modular Aircraft Wins International Design Award  Steigenberger Hotel Doha Appoints Sherief Abouelmagd as GM  Duetto Appoints Chris Crowley as Senior Vice President of Sales  Singapore to Accept IATA Travel Pass from 1 May  Changi Airport Launches Safe Travel Concierge App  Thai AirAsia Launches Promotion  Salesforce to Upgrade Singapore Airlines' CRM with 1Point  Qatar Airways Operates World's First Fully COVID19 Vaccinated Flight  British Airways Invests in Future of Hydrogen-Electric Aircraft with ZeroAvia  Alaska Airlines Confirms Order for 23 Boeing 737-9 Airplanes  Elbit Systems Completes Acquisition of Sparton  Air Canada Terminates Transat Acquisition  Saudi Arabia Has 73,057 Hotel Rooms in Pipeline  Wharf Opens Stunning Niccolo Hotel in Suzhou, China  Airlines: A Path Back to Profitability  Sabre Launches New Airline Storefront  Vietjet to Resume International Flights  SITA Appoints Martin Smillie as VP Communications & Data Exchange  Embraer Completes Aerial Refueling Trials Between Two KC-390s  Elbit Systems Acquires Rokar from BAE  China Airlines to Launch Taipei - Palau Flights  Emirates Resumes Daily Airbus A380 Flights to Bangkok, Thailand  Willie Walsh Becomes Director General of IATA  American Airlines Offering Quarantine-Free Travel to Italy  Jumeirah Appoints Ermanno Zanini as RVP and GM of Burj Al Arab  Cross Signs Franchise Agreement for Seven Hotels in Japan  Hong Kong Air Cargo Launches Pilot Recruitment Drive  Boeing Awarded US$1.6 Billion Contract for 11 P-8A Poseidon Aircraft  WHO Appoints Carl Bildt as Special Envoy for ACT-Accelerator  Hong Kong Airlines to Trial Lab App Module of IATA Travel Pass  Thailand's Top of the Gulf Regatta 2021 to Take Place in November  World Tourism Organization Outlines Two Scenarios for 2021  TUMI and McLaren Unveil New Collection  Accelya Signs Distribution Agreement with Air France-KLM  Corsair Takes Delivery of First A330-900 Aircraft  Qatar Airways Extends Support of Orbis' Blindness Prevention Programmes  WHO Calls for More Studies into Origin of SARS-CoV-2 Virus  Japan Coast Guard Orders Two More Airbus H225 Helicopters  Thai Airways to Operate Two Flights Between Frankfurt and Phuket  Travellers Need COVID19 Tests to be Convenient and Affordable  Jelena Bojanic Appointed GM of A by Adina Canberra Hotel  Southwest Airlines Orders 100 Boeing 737 MAX Aircraft  TFE Begins Major Expansion with Opening of First Hotel in Austria  Bombardier Delivers 50th Global 7500 Business Jet  British Airways Starts Selling Cook-at-Home Meal Kits  Airbnb Launches What's My Place Worth Tool in Thailand  Qatar Airways Enhances Oryx One IFE with PressReader Partnership  Airbus Launches Travel Companion App - Tripset  United Airlines to Increase Flights in May  IATA Publishes 2020 Safety Report  FlyArystan Takes Delivery of Two More Airbus A320 Aircraft  GKN Aerospace Wins Boeing 777X EWIS Contract  Delta to Launch Flights to Iceland from Three Cities in U.S.A.  Marriott Signs Three Hotels in Saudi Arabia  Sabre Launches Qantas NDC Offers in Australia and New Zealand  Mandarin Oriental New York to Reopen 1 April  Air France Trials ICC AOKpass on CDG - SFO and LAX Flights  Bell Boeing V-22 Osprey Logs 600,000+ Flight Hours  SITA Upgrading Services at Sydney Airport in Australia  Dusit Thani Maldives Hosts Professional Tennis Coach Jerome Becker  Elbit Systems Wins Night Vision Goggles Order from German Federal Police  NDC - Exclusive Interview with Kathy Morgan of Sabre Travel Solutions  Elephant Conservation, Jungle Bubbles and Tourism in Thailand - Interview  IATA Travel Pass - Interview with Vinoop Goel, Director Airports - APAC  How's Business in Pattaya, Thailand? Interview with MD of Tiffany's Show  Will British & Irish Lions' Tour of South Africa Go Ahead?  ASEAN Tourism Forum 2021 Postponed Until January 2022  HD Videos and Interviews  Podcasts from HD Video Interviews  RSS News Feed and Ticker  Travel Trade Shows in 2020 and 2021  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

Receive our Latest Travel News Daily Email free of charge by entering your email address and name in the boxes to the right and clicking subscribe. You can also receive the news by WhatsApp, stay updated with our RSS Feed Free Travel News RSS Feed, and even Add the Headlines to Your Website free of charge. Have questions? Please read our travel news FAQ.

     
Advertising
Advertising
Copyright © 1997-2021 TravelNewsAsia.com