ID :
181948
Fri, 05/13/2011 - 12:44
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http://m.oananews.org//node/181948
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THAI Airways reports first quarter performance
BANGKOK, May 13 (TNA) - Thai Airways International (THAI), the national flag carrier, reported on Friday its business performance in the first quarter of this year, saying that its net profit stood at 618 million baht at the end of March 2011, or 0.28 baht per share.
THAI President Piyasvasti Amranand said that the airline earned a total gross profit of 11.19 billion baht in the first three months of this year, some 4.8 per cent lower than the corresponding period of last year; while combined assets of THAI and all its subsidiaries totaled 291.55 billion baht at the end of the first quarter, some five billion baht lower than the same period of last year with combined liabilities standing at 214.54 billion, about 5.6 billion baht lower than the corresponding period of 2010.
According to the THAI president, his company's total revenue for the first three months of this year, however, stood at 51.85 billion baht, some 4.1 per cent year-on-year increase, with the total revenue from sales and aviation services alone rising 4.3 per cent; while the total cost, excluding its foreign exchange account, surged to 47.73 billion baht during the period, 7.5 per cent higher than the corresponding period of last year, caused mainly by a fuel price hike of 33.5 per cent on average.
The THAI president said that the national airline was also affected by growing competition in world aviation businesses and the massive earthquake and tsunami in Japan's northeastern region on March 11, which had caused a drop in its overall number of passengers on regional routes during the January-March 2011 period. (TNA)
THAI President Piyasvasti Amranand said that the airline earned a total gross profit of 11.19 billion baht in the first three months of this year, some 4.8 per cent lower than the corresponding period of last year; while combined assets of THAI and all its subsidiaries totaled 291.55 billion baht at the end of the first quarter, some five billion baht lower than the same period of last year with combined liabilities standing at 214.54 billion, about 5.6 billion baht lower than the corresponding period of 2010.
According to the THAI president, his company's total revenue for the first three months of this year, however, stood at 51.85 billion baht, some 4.1 per cent year-on-year increase, with the total revenue from sales and aviation services alone rising 4.3 per cent; while the total cost, excluding its foreign exchange account, surged to 47.73 billion baht during the period, 7.5 per cent higher than the corresponding period of last year, caused mainly by a fuel price hike of 33.5 per cent on average.
The THAI president said that the national airline was also affected by growing competition in world aviation businesses and the massive earthquake and tsunami in Japan's northeastern region on March 11, which had caused a drop in its overall number of passengers on regional routes during the January-March 2011 period. (TNA)
