BANGKOK, 14 November 2019: Asia Aviation Plc. (AAV), the parent company of Thai AirAsia has reported a net loss of THB416.6 million attributed to Thailand’s sluggish tourism growth.
In a media statement released Tuesday, it reported operating results for the 3rd Quarter of 2019 (3Q2019), that recorded a marginal 3% growth in passengers to reach 5.28 million.
The company suffered losses despite having a strong load factor of 81% similar to what was reported in the third quarter last year.
Recently the company received its first-time-ever listing on the Thailand Sustainability Investment (THSI) index of the Stock Exchange of Thailand (SET), among Group 3 firms with assets between THB10,000 and 30,000 million.
Overall in 3Q 2019, the parent company AAV posted revenue of THB9,661.4 million, up 4% YoY with a net loss of THB416.6 million. TAA, the airline company, concluded the quarter with revenue of THB9,661.4 million and a net loss of THB760.6 million.
Asia Aviation Plc and Thai AirAsia Co. Ltd. (TAA) chief executive officer Santisuk Klongchaiya said: “The operational performance in 3Q2019 is recovering from the previous quarter, reflected by a decent number of tourists, especially from China.
“The business, however, had remained under pressure from competitive pricing and continual appreciation of the Thai baht, which negatively impacted on foreign travellers’ appetite to visit Thailand. Nonetheless, Thai AirAsia remains resolute in our desire to grow in all dimensions. We also remain committed to increasing revenue from ancillary services as well as create opportunities through the addition of a new Airbus A321neo by year-end.”
To further drive transformation efforts, the company has introduced leading technology advancements and innovation to provide better service to its guests and improve overall resource management efficiency. Besides, the company transferred call centre services to AVA, AirAsia’s AI-powered and 24/7 automated chat system on 1 November.
This immediately reduced the staff required to run the call centre interaction with passengers.
“Joining the THSI is viewed as a positive move that proves the company’s investment is delivering economic, societal and environmental benefits for our stakeholders,” he said.
During the third quarter the airline was named “Asia’s Leading Low-Cost Airline” for the 7th year in a row, and “Asia’s Leading Low-Cost Cabin Crew” at the World Travel Awards Asia and Oceania 2019.
The company has revised its targets to 22.5 million passengers for the entire year with a load factor average of 86%.
(Source: Thai AirAsia)
