Asia Aviation hit by Q1 turbulence
Asia Aviation, owner of Thai AirAsia, posted a 43% drop in Q1 net profit, rocked by dearer global oil prices and a hefty rise in excise tax on jet fuel. Thailand's largest low-cost carrier made THB570m in net profit from January to March, down from 1b posted in the same period last year. Rising world oil prices and the Jan 25 rise in the country's excise tax on jet fuel were to blame. World oil prices were 30% higher in the quarter year-on-year, and are expected to rise gradually over the next 2-3 years. Analysts said the oil price factor is expected to affect the financial results of other Thai airlines including Bangkok Airways and Nok Air when they release their filings in the next several days. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-05-10/unaligned/asia-aviation-hit-by-q1-turbulence
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Asia Aviation hit by Q1 turbulence
Asia Aviation, owner of Thai AirAsia, posted a 43% drop in Q1 net profit, rocked by dearer global oil prices and a hefty rise in excise tax on jet fuel. Thailand's largest low-cost carrier made THB570m in net profit from January to March, down from 1b posted in the same period last year. Rising world oil prices and the Jan 25 rise in the country's excise tax on jet fuel were to blame. World oil prices were 30% higher in the quarter year-on-year, and are expected to rise gradually over the next 2-3 years. Analysts said the oil price factor is expected to affect the financial results of other Thai airlines including Bangkok Airways and Nok Air when they release their filings in the next several days. <br/>
