Thai AirAsia parent's Q1 profit jumps 76%

SET-listed Asia Aviation, a major shareholder of Thai AirAsia, has reported a 76% year-on-year rise in its Q1 net profit, buoyed by strong growth in number of passengers carried, high demand during peak season and the baht appreciation. Net profit for the first three months was registered at 1b baht, up from 570.3m logged in last year's corresponding period. The company's revenue was recorded at 11.6b baht, up 22% year-on-year from 9.5b. From January to March 2018, the number of international tourists to Thailand continued to grow, reaching 10.6m, up 15% compared with the same<br/>period last year, said AAV. "The number of passengers carried during the [first] quarter by Thai AirAsia was 5.6m, increasing by 16% year-on-year, above the 15% growth in seat capacity," said AAV. "During the quarter, Thai AirAsia added three aircraft, bringing its total fleet to 59 aircraft at the end of the quarter." The airline also started operating seven new routes, both domestic and international, contributing to a higher profit margin. <br/>