Thai Airways has suffered another quarterly loss, despite the sharp drop in fuel prices that is boosting many other airlines.
The national carrier slumped to an operating loss of THB836 million (US$23.5m) in the third quarter of 2016. And while that was a significant improvement compared to the same period last year, the airline remained mired in the red, with a quarterly net loss of THB1.59 billion.
THAI’s result would have been much worse if it wasn’t for a 33.6% reduction in fuel costs. This resulted in a saving of more than THB5.5 billion. Non-fuel operating expenses increased by 6.7%.
The airline reduced its active fleet by one to 93 aircraft during the quarter. Despite this however, THAI’s passenger traffic increased 7.6% to 5.50m.