Thai Airways International announces Nine Month Results and 3rd Quarter Results for Fiscal Year 2002/03

Thai Airways International has announced its nine month results for fiscal year 2002/03 (October 2002 to June 2003) and its third quarter results (April to June 2003), whereby the net profit for the nine months amounted to 7,023 million Baht.

Mr. Kanok Abhiradee, THAI’s President, announced that THAI’s nine month result for fiscal year 2002/03 (October 2002 to June 2003) amounted to a total revenue from the sale of goods and the rendering of services of 96,936 million baht, with the profit from the sale of goods and the rendering of services of 11,234 million baht, a decrease of 416 million baht or 3.6 percent compared to  the same period last year. When other incomes and expenses were included, THAI achieved a net profit of 7,023 million baht, a decrease of 2,202 million baht compared to the same period last year. Therefore, earnings per share was 5.02 baht compared to earnings per share of 6.59 baht during the same period last year, a decrease of 1.57 baht per share when compared to the same period last year.

As for THAI’s operating result for the third quarter of fiscal year 2002/03 (April to June 2003), THAI earned a total revenue from the sale of goods and the rendering of services of 23,682 million baht and loss from the sale of goods and the rendering of services of 2,519 million baht, with an effect from a decrease in revenue from the sale of goods and the rendering of services due to the SARS crisis. When other incomes and expenses were included, THAI accumulated a net loss of 1,273 million baht., or net loss per share of 0.91 baht, compared to net profit 3,452 million baht or net profit per share of 2.47 baht during the same period last year.

Following the SARS crisis, THAI’s passenger traffic has resumed back to normal. During June 2003, THAI had a cabin factor at 62.3 percent, a increase from 54.8 and 52.9 percent in April and May 2003 respectively, and the airline anticipates that passenger traffic will continue to increase at a steady rate during the tourist peak season at the end of the year