Thai AirAsia declares poor half-year

BANGKOK, 16 August 2019: Asia Aviation Plc, the majority shareholder of Thai AirAsia  (TAA), declared a slim net profit of THB15 million for the first half of 2019.

It reported total revenue reached THB21,638 million.

TAA recorded revenue of THB 21,637 million and a net profit of THB24 million attributing the soft bottom-line performance to weakened visitor growth to Thailand, appreciation of the Thai Baht and a global economic slowdown that has impacted on travel demand.

The airline’s first-half load factor reached 86%.

During the second quarter, AAV reported revenue of THB 10,015 million and a net loss of THB 482 million. TAA earnings reached THB10,015 million, and its net loss totalled THB879 million.

TAA carried 5.58 million passengers, up 5% year-on-year and maintained a load factor average of 83, down 2 points when compared with the second quarter of 2018.

TAA did not add any additional aircraft during the period under review, bringing its fleet strength to 62 aircraft.

However, the airline continued its growth, launching seven routes; Bangkok (Don Mueang) to Can Tho and Nha Trang in Vietnam, and Ahmedabad in India; Chiang Mai to Danang in Vietnam and Shenzhen in China; Chiang Rai to Shenzhen; and Phuket to Phnom Penh in Cambodia.

TAA also increased flights on popular routes such as Bangkok to Roi Et, Khon Kaen and Shenzhen. In 2019, the airline is targeting 23.15 million passengers carried, an average load factor of 86 with the fleet increasing to 63 by year-end.

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