THAI eyes return to profit in Q3
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Thai Airways International (THAI) expects travel demand to pick up from August and has predicted that it will turn an operating profit in the third quarter. According to a Reuters report, the carrier’s Vice President of Investor Relations, Raj Tanta-Nanta, said that an improving operating conditions and easing fears about the A(H1N1) flu outbreak are expected to boost the carrier.
“Overall, the political situation [in Thailand] is becoming more stable, the economy is starting to recover and our expenses are under control… All in all, we could be back to normal this year,” Tanta-Nanta told Reuters in an interview. “The cabin factor looks better from August, so our performance should become positive… We should see operating profits from the third quarter.”
The airline reported an operating loss of THB3.87 billion (US$114 million) in the second quarter and a net loss of THB5.4 billion, hit by foreign exchange losses and falling passenger numbers. The airline’s executive committee has predicted that it will make a net profit of about THB6-7 billion this year.
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