BANGKOK, 19 May 2025: Asia Aviation Plc (AAV), the sole shareholder of Thai AirAsia (TAA) reported its 1Q2025 performance last week, posting a core profit (excludes foreign exchange impacts) of THB1.299 billion, up 6% year-on-year.
Revenues from sales and services came in at THB13.225 billion, down 4% YoY, largely due to a decrease in international tourist demand.
In line with Thai AirAsia’s cost leadership focus, operating costs improved during the quarter, with Cost per Available Seat Kilometre (CASK) down 12% YoY to THB 1.73. CASK excluding fuel declined 3% to THB1.13. Revenue per Available Seat Kilometre (RASK) stood at THB 1.97, down 10% YoY.
As a result of disciplined operational execution, TAA carried 5.6 million guests in the first quarter of 2025, up 2% YoY, with a robust load factor of 87%. Seat capacity increased by 9% to 6.4 million seats, driven by additional flights and frequency enhancements. The airline also expanded its fleet with the addition of one Airbus A321neo during the quarter, bringing the total to 61 aircraft, 55 of which were in operation. TAA received one aircraft in April and remains on track to receive four more aircraft in the latter part of 2025 reaching a total of 66 aircraft to support its future growth plans.
AAV and TAA Chief Executive Officer Santisuk Klongchaiya stated: “Thai AirAsia’s performance in the first quarter of 2025 highlights the company’s adaptability and resilience toward long-term financial sustainability. We are proud to have achieved a record-high 42% share of the domestic market, the highest in the country as of the end of March 2025.
“This milestone is primarily driven by our dual airport strategy, which enables us to serve domestic routes from both Suvarnabhumi (BKK) and Don Mueang (DMK) airports. As the only carrier to fully leverage Bangkok airports, we offer unmatched convenience, capacity and connectivity for Thai travellers – a unique competitive advantage that strengthens our market leadership.”
Domestically, operational momentum remained solid with 3.7 million passengers, marking a 9% increase YoY, representing 67% of the airline’s total passengers for the quarter, with a high passenger load factor of 91%.
During the quarter, TAA continued to expand its flight network from its Suvarnabhumi Airport hub, launching two new routes to the Northeast region — Khon Kaen and Udon Thani in February. In addition, the airline also opened ticket sales for three additional routes: Suvarnabhumi to Surat Thani, Buriram, and Narathiwat, with services set to commence this 1 July.
The international market is rebounding steadily, and we are actively tapping into new growth corridors. While some East Asian markets namely China, Hong Kong, and Macau remain soft, strong performance from South Asia and upcoming new fifth freedom routes like Chiang Mai–Taipei–Sapporo are set to balance the pace of recovery.
“We remain optimistic about meeting our 2025 passenger target of 23 to 24 million with a strong load factor at 90%, and our planned fleet expansion to 66 aircraft by year-end strategic moves that will position us well for the peak season and beyond,” said Santisuk.
