Asia Aviation Public Company Limited posts US$68.7 million quarterly loss

May 18th 2022

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Thai AirAsia (TAA) owner, Asia Aviation Public Company (AAPC), has reported a net loss of 2.4 billion baht (US$68.7 million) for the three months to March 31 compared with a net loss of 1.9 billion baht in the same months in 2021. Read More » Revenue improved 55%, to 2.1 billion baht, AAPC informed the Stock Exchange of Thailand earlier this week. Costs increased by 6%, to 4.8 billion baht. AAPC and Thai AirAsia CEO, Santisuk Klongchaiya, said the LCC added 11,002 flights to its schedule in the quarter, a 32% increase from the year-ago period. It plans “even more international routes” in the ASEAN and South Asian markets in anticipation of pent-up demand from foreign travellers to visit Thailand, he said. “The first quarter was a satisfactory start to the recovery of our business. We believe we will be able to fully fuel the international expansion in the coming quarters, resuming familiar routes and adding newer choices, including to Japan, where TAA is operating for the first time,” Santisuk said.