THAI turns around losses
THAI looks set to bottom out of 3 consecutive years of losses, following a net profit of THB6b in Q1 this year, thanks to cost cutting measures and lower fuel costs. Though the total revenue of THAI and its subsidiary companies has reduced by 2.7% to THB50.1b compared to that in the same quarter last year, THAI has been successful in capping total costs, bringing them down by 8.8% to THB43b, THAI president Charamporn Jotikasthira said Tuesday. Charamporn attributed THAI's improving financial situation to the sharp drop in aviation fuel costs by THB3.6b, down 25%, as well as continued measures to cut non-fuel costs by THB524b. Stronger competition is a key factor that has lowered the carrier's revenues. THAI plans to leave behind its diminishing status this year. The recovery has prompted the company to estimate a THB2b profit this year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-05-18/star/thai-turns-around-losses
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THAI turns around losses
THAI looks set to bottom out of 3 consecutive years of losses, following a net profit of THB6b in Q1 this year, thanks to cost cutting measures and lower fuel costs. Though the total revenue of THAI and its subsidiary companies has reduced by 2.7% to THB50.1b compared to that in the same quarter last year, THAI has been successful in capping total costs, bringing them down by 8.8% to THB43b, THAI president Charamporn Jotikasthira said Tuesday. Charamporn attributed THAI's improving financial situation to the sharp drop in aviation fuel costs by THB3.6b, down 25%, as well as continued measures to cut non-fuel costs by THB524b. Stronger competition is a key factor that has lowered the carrier's revenues. THAI plans to leave behind its diminishing status this year. The recovery has prompted the company to estimate a THB2b profit this year. <br/>
