TravelNewsAsia.com

Thai Airways International Reports Q2 2012 Results

Travel News Asia Latest Travel News Podcasts Videos Wednesday, 15 August 2012
 

In the second quarter of 2012, Thai Airways International and its subsidiaries reported an operating loss before foreign currency exchange and income tax, of THB 2,727 million, compared to the previous quarter; indicated THB 3,341 million gain before foreign currency exchange and income tax. Revenues decreased by THB 5,999 million or 11.0%.

THAI said the primary result came from promotions designed specifically for low season period when passenger demands are diminished. The remaining amount of the special fare tickets issued in late 2011 to stimulate more passenger traffic after the massive floods which were valid until June 2012 were utilized during this quarter. There were also various expenses paid during this quarter which consisted of retrospective annual salary increments, which had been pending for adjustment since January 2012, retrospective license allowance for pilots, which had been pending for adjustment since June 2011.

In the second quarter of 2012, THAIs consolidated total revenues amounted to THB 48,506 million, which was an increase of THB 2,947 million or 6.5% from last year. THAIs consolidated total expenses, excluding gain (loss) on foreign currency exchange amounted to THB 51,233 million, which was THB 285 million or 0.6% lower than last year.

The major factor causing the decrease was the lower employee benefit expenses and lease of aircraft and spare parts. However, THAI and its subsidiaries also recorded gain on foreign currency exchange in the amount of THB 1,316 million compared to last year where THAI lost THB 2,265 million. Consequently, THAI and its subsidiaries reported a loss before foreign currency exchange and income tax of THB 2,727 million which indicated better performance when compared to last year where loss was reported at THB 5,959 million.

In the second quarter of 2012, THAIs consolidated loss totaled THB 1,458 million. Loss attributed to owners of the parent (net loss) was THB 1,526 million or THB 0.70 per share. The net loss decreased when compared to last years THB 7,874 million or THB 3.61 per share loss. EBITDAR was THB 4,439 million, which increased by THB 2,944 million or 196.9% from last year.

Operating results of THAI and its subsidiaries for the first six months of 2012 (January June 2012) indicated profit for the period at a total of THB 2,210 million. Profit attributed to owners of the parent amounted to THB 2,118 million or THB 0.97 per share compared to last years loss of THB 7,256 million or THB 3.32 per share. Other comprehensive income of THAI and its subsidiaries was THB 54 million which generated the comprehensive income, THB 2,264 million. Finally, total comprehensive income for the period attributed to owners of the parent amounted to THB 2,172 million.

As of June 30, 2012, THAIs consolidated total assets were THB 277,375 million, an increase of THB 2,930 million from December 31, 2011. Total liabilities totaled THB 211,381 million, which was an increase of THB 371 million. Total shareholders equity amounted to THB 65,994 million, which was an increase of THB 2,558 million.

Based on earlier news regarding the companys target to earn a profit before foreign currency exchange and income tax in 2012 of THB 6,000 million, the company has now said that based on the six-month financial results, financial results for the entire fiscal year might not reach that target.

HD Video Tour of a Brand New Thai Airways International Boeing 777-300ER

See more: Videos

See other recent news regarding: Travel News Asia, Interviews, Pictures, Sports Tourism, Videos, Thai Airways, Bangkok

Subscribe to our Travel Industry News RSS Feed Travel Industry News RSS Feed from TravelNewsAsia.com. To do that in Outlook, right-click the RSS Feeds folder, select Add a New RSS Feed, enter the URL of our RSS Feed which is: https://www.travelnewsasia.com/travelnews.xml and click Add. The feed can also be used to add the headlines to your website or channel via a customisable applet. Have questions? Please read our Travel News FAQ. Thank you.

     
Advertising
Advertising
Copyright © 1997-2022 TravelNewsAsia.com