THAI swings back to profit in 2012
THAI Airways International (THAI) returned to the black in 2012, as rising passenger traffic boosted revenues.
The Bangkok-based national carrier posted a full-year pre-tax profit of THB3.89 billion (US$130m) for the 12 months to 31 December 2012, following a significant THB5.49bn loss in 2011, when the carrier’s results were affected by the Bangkok floods.
A stable year in Thailand, during which the country saw record 22 million visitor arrivals, enabled THAI to increase its revenues 9.9% year-on-year to THB213.53bn. The company’s expenses also climbed 1.3%, mainly due to higher fuel costs. THAI also achieved significant developments in 2012, including the launch of its new regional carrier, THAI Smile, and the delivery of its first Airbus A380s.
In a statement, THAI called the 2012 results a “success”, achieved through “adhering to strategic initiatives”.