High fuel costs, competition drive THAI into the red
THAI went into the red last year as it felt the impact of fierce market competition and higher fuel costs. The carrier posted an overall net loss of THB2.072b in 2017, despite making an operating profit of THB2.856b -- marking a drop of THB1.215b or 29.8% from 2016, according to Kanok Thongpurk, the executive VP of THAI in charge of legal management and general administration. The airline blamed jet fuel prices which rose 24.2% last year, a 7.7% drop in passenger yields resulting from stepped-up competition and a reduction in the fuel surcharge as major contributors to the negative performance. It also faced other issues such as foreign-exchange losses and impaired aircraft and assets. THAI's revenue last year rose 6.3% to THB191.94b due to improved passenger fares, air freight charges and other service fees. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-02-27/star/high-fuel-costs-competition-drive-thai-into-the-red
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High fuel costs, competition drive THAI into the red
THAI went into the red last year as it felt the impact of fierce market competition and higher fuel costs. The carrier posted an overall net loss of THB2.072b in 2017, despite making an operating profit of THB2.856b -- marking a drop of THB1.215b or 29.8% from 2016, according to Kanok Thongpurk, the executive VP of THAI in charge of legal management and general administration. The airline blamed jet fuel prices which rose 24.2% last year, a 7.7% drop in passenger yields resulting from stepped-up competition and a reduction in the fuel surcharge as major contributors to the negative performance. It also faced other issues such as foreign-exchange losses and impaired aircraft and assets. THAI's revenue last year rose 6.3% to THB191.94b due to improved passenger fares, air freight charges and other service fees. <br/>
