AAV reports revenue boost

BANGKOK 15 August 2022: Revenue rises, but Thai AirAsia’s second quarter 2022 results deliver a loss of THB4,724 million, Asia Aviation Plc, a major shareholder of Thai AirAsia, confirmed in the 2Q 2022 operational results last week.

On the positive side, the airline group declared THB2,774 million in revenue, up 157% year-on-year (“YoY”).

The revenue boost was attributed to a strong recovery in the tourism industry, driven by solid domestic growth and reinstatement of key international routes, especially to India, Malaysia and Singapore. Seat capacity in 2Q2022 returned to 33% of what it was in the second quarter of 2019 (2Q2019), before the Covid-19 pandemic.

However,  setbacks from doubling global fuel prices due to consumption outpacing supply globally, higher maintenance costs, and the depreciation of the baht against the US dollar have all contributed to AAV registering a loss of THB4,724 million for the quarter.

Throughout 2Q2022, TAA carried 1.68 million passengers, or an increase of 133% YoY, with a load factor of 75%, up 14 percentage points compared to last year.

Meanwhile, the average fare per passenger increased 17% to THB 1,317, mainly due to strong pent-up demand and the addition of a fuel surcharge for international flights. 

For the first half of 2022 (1H2022), AAV recorded revenue of THB4,628 million, up 90%, while reporting a loss of THB7,094 million. The airline carried 3.14 million passengers, up 84% YoY, with a load factor of 74%.

For 2022, the airline forecasts 10 million passengers, a three-fold increase from last year’s 2.93 million passengers.

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