THAI recovery continues in Q1

Thai Airways International posted a profit in the first quarter of 2017, as the national carrier’s recovery continues.

Following the announcement of a THB47 billion (US$1.3bn) full-year profit in 2016, THAI has now posted a THB3.2bn net profit for Q1 2017. While this was actually 47% lower than Q1 2016, the fact that the company continues to make money will be seen as another indicator of the national carrier’s revival.

Passenger traffic, measured in revenue passenger kilometres (RPK), increased 11.6% in Q1 2017, while THAI’s average load factor jumped from 77.5% to 82.8%. In terms of actual passengers boarded, THAI’s traffic increased 10.1% to 6.52 million. Passenger yields decreased 12% however, which THAI blamed on “fierce competition and reduction of fuel surcharge”.

THAI’s revenues totalled THB49.8bn in the first quarter, which marked a slight 0.8% decrease comparing to the same period last year, while the company’s expense bill was up 9.1% to THB46.9bn.

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