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Thai AirAsia parent records 3.4 billion baht profit in latest quarter
November 13th 2024
Asia Aviation Public Company (AAV) has booked a net profit of 3.4 billion baht (US$99 million) for the three months to September 30, an improvement from net losses of 1.7 billion baht in the same months in 2023. Read More » Revenue improved by 55%, to 15.4 billion baht, AAV said in a regulatory filing. Costs declined 9%, to 10.4 billion baht, as a result of beneficial foreign exchange movements and lower fuel costs. Domestic tourism “sustained its robust momentum” in the quarter and international tourism was 89% of pre-COVID-19 levels for the three months, the LCC said. AAV reaffirmed its previous guidance of revenue expansion of 20%-23% for full-year 2024 and forecasts it will fly between 20 million and 21 million passengers in the 12 months to December 31. In the year to September 30, AAV passengers flown were higher by 11% (15.3 million) over the matching months last year. “Thai AirAsia is confident it will deliver a turnaround to core profitability this year,” AAV said.
