BANGKOK 1 March 2019: Thai AirAsia Co Ltd announced, Thursday, its financial results for 2018 that saw it achieve a profit of THB 70 million on a revenue of THB 40,200.2 million, despite heightened fuel costs and a slowdown in Chinese tourists.
According to Asia Aviation Plc, the majority shareholder in Thai AirAsia, the airline carried 21.57 million passengers with an average load factor of 85%.
This year, the airline will add four more aircraft to expand services to Cambodia, Laos, Myanmar Vietnam and India.
Asia Aviation Plc and Thai AirAsia chief executive officer, Santisuk Klongchaiya, said that while fuel costs on the global market were higher in 2018, the carrier was able to maintain its low fares through efficient capital management and diligence.
For 2018, AAV saw revenues of THB40,200.2 million and profit for the year at THB70 million, serving 21.57 million passengers, or a 9% increase year-on-year and maintaining an average load factor of 85%.
The airline closed 2018 with a fleet of 62 aircraft (six aircraft added to a 2017 fleet of 56).
In the fourth quarter of 2018, the airline has seen gradual recovery in passenger traffic due in part to positive state policies that included a waiver of the visa- on-arrival fee.
This year the airline will continue to diversify its network, with the inclusion of its seventh flight hub in Chiang Rai and more international routes between its regional bases.
To stabilise its revenue stream, the airline will increase its passenger shares in the CLMV* region
* Cambodia, Laos, Myanmar and Vietnam
