News
Thai AirAsia parent almost doubles losses in third quarter
November 15th 2022
Asia Aviation Public Company Limited (AAPC), the parent of LCC Thai AirAsia (TAA), has reported a September quarter net loss of 4.1 billion baht (US$113 million) against a 2.1 billion baht net loss for the same months in 2021. Read More » Revenue was up 969%, to 4.9 billion baht, AAPC said in a regulatory filing to the Stock Exchange of Thailand. Expenses increased by 137%, to 9.9 billion baht, but fuel costs were 5,357% higher year-on-year from more flying and depreciation of the Thai currency. AAPC does not hold any fuel hedging positions. AAPC forecasts TAA will fly 10 million passengers and record a load factor of 81% this year. In the first nine months of calendar 2022, TAA flew 5.9 million passengers and had an 80% load factor. “For the final three months of this year, Thai AirAsia is aiming for domestic capacity to be close to pre-COVID-19 operations and for international capacity to land near 50%,” AAPC said.
