THAI swings to quarterly profit
Loss-ridden THAI avoided a record net loss in 2015 after its performance in the October-December period posted a net profit, thanks to substantial cost reductions and more efficiencies. The carrier posted a net profit of about THB4b in Q4 last year, narrowing its 2015 net loss to about THB14b, compared with a THB15.6b net loss in 2014, said a company source. The company posted a net loss as high as THB18.1b for the 9 nine months of last year. THAI's board will convene Feb 29 to announce its operating results in 2015 as well as the company's targets and directions for next year. The results show the company is on the right track in how it has addressed the accumulated losses, the source said. THAI's ASKs declined by 6.2%, while the airline set an earlier ASK reduction target of 15%. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-02-23/star/thai-swings-to-quarterly-profit
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THAI swings to quarterly profit
Loss-ridden THAI avoided a record net loss in 2015 after its performance in the October-December period posted a net profit, thanks to substantial cost reductions and more efficiencies. The carrier posted a net profit of about THB4b in Q4 last year, narrowing its 2015 net loss to about THB14b, compared with a THB15.6b net loss in 2014, said a company source. The company posted a net loss as high as THB18.1b for the 9 nine months of last year. THAI's board will convene Feb 29 to announce its operating results in 2015 as well as the company's targets and directions for next year. The results show the company is on the right track in how it has addressed the accumulated losses, the source said. THAI's ASKs declined by 6.2%, while the airline set an earlier ASK reduction target of 15%. <br/>
