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Thai AirAsia in the black for latest quarter
August 14th 2024
Asia Aviation Public Company Limited (AAV), parent of Thai AirAsia, booked a net profit of 84.1 million baht (US$2.4 million) for the three months to June 30 compared with a net loss of 1 billion baht in the same months a year ago. Read More » Revenue was higher by 12%, at 11.7 billion baht, AAV said in a regulatory filing. Improvements in operating performance and passenger growth, higher average fares and an increase in operating aircraft to 49 from 45 a year ago underpinned the financial results. AAV’s guidance for 2024 is unchanged at a 20%-23% improvement in revenue, the LCC said, and added its aircraft fleet will reach 60 by next December 31. “Domestic air travel is forecast to remain robust, further closing the gap with 2019 levels,” AAV said. “Thai AirAsia intends to build domestic capacity by approximately 10% year-on-year, a rate that will support its leadership position and maintain the domestic passenger contribution [to the group] of near 60% of its passenger portfolio.”
