Thai AirAsia parent Q1 operating profit halves
The parent company of Thai AirAsia, Asia Aviation, saw Q1 operating profit fall 46% to THB1.1b (US$34.7m). Revenue for the quarter ended March 31 was flat at THB11.6b, but expenses rose 10% to THB10.5b. Net profit fell 50% to THB497m. The company says that fuel costs rose during the quarter, as did airport and MRO costs. Despite this, the carrier’s CASK was flat compared with a year ago at THB1.53 due to a 10% increase in ASKs and a longer average stage length. RPKs grew 9%, while load factor was flat at 91%. The carrier’s average fare for Q1 was THB1554, down 7%. In its outlook, the carrier notes that international trade frictions could hurt the global economy and affect exchange rates. However, it adds that Thailand’s tourism industry will remain strong in 2019. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-14/unaligned/thai-airasia-parent-q1-operating-profit-halves
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Thai AirAsia parent Q1 operating profit halves
The parent company of Thai AirAsia, Asia Aviation, saw Q1 operating profit fall 46% to THB1.1b (US$34.7m). Revenue for the quarter ended March 31 was flat at THB11.6b, but expenses rose 10% to THB10.5b. Net profit fell 50% to THB497m. The company says that fuel costs rose during the quarter, as did airport and MRO costs. Despite this, the carrier’s CASK was flat compared with a year ago at THB1.53 due to a 10% increase in ASKs and a longer average stage length. RPKs grew 9%, while load factor was flat at 91%. The carrier’s average fare for Q1 was THB1554, down 7%. In its outlook, the carrier notes that international trade frictions could hurt the global economy and affect exchange rates. However, it adds that Thailand’s tourism industry will remain strong in 2019. <br/>
