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Thai AirAsia parent posts US$50.7 million loss for latest quarter
August 16th 2021
Asia Aviation Public Company Limited (AAPC), the parent company of Thai AirAsia, has reported a net loss of 1.7 billion baht (US$50.7 million) for the three months to June 30, an increase from a net loss of 1.1 billion baht in the same months last year. Read More » Revenue declined 51%, to 1.1 billion baht, but costs were cut by 3%, to 3.9 billion baht, AAPC informed the Stock Exchange of Thailand. "The global economic outlook in the second half of 2021 is expected to recover, but economic disparity has diverged further across countries," AAPC said in its financial accounts. "The developed countries will sharply rebound, driven by the progress of COVID-19 vaccinations, less restrictive containment measures and an enormous stimulus package. On the other hand, developing countries have recovered slowly due to a delayed vaccine distribution rate, actively restrictive containment measures and limited fiscal support. In addition, the recovery in tourism-dependent countries is expected to be weaker than in the others."
