TAAX eyes profit for second year

Thai AirAsia X (TAAX) expects to finish 2017 with a profit for the second year in a row, paving the way for its planned listing on the bourse. The country's first medium- to long-haul low-cost carrier expects to declare a net profit of 80m baht this year, up from 40m in 2016, its first profit since beginning operation in 2014. TAAX aims to increase earnings next year and continue profitability so it can be eligible to list on the Stock Exchange of Thailand, said TAAX chief executive Nadda Buranasiri. SET rules require companies wishing to list to declare a profit for five consecutive years. TAAX expects a stronger balance sheet next year as it seeks to revive a growth plan that was bogged down by restrictions imposed by the International<br/>Civil Aviation Organization (ICAO) in June 2015. TAAX, a joint venture between AirAsia X of Malaysia and Thai AirAsia, wants to increase its fleet of Airbus A330-300s to 10 next year from six and introduce new routes in northern Asia.<br/>