THAI Q1 profit falls on lower demand; seeks major aircraft order
THAI reported a steep drop in profits for the March quarter, although the airline is also moving closer to gaining approval for a major aircraft order. THAI is seeking govt permission to place orders for 38 aircraft, most of which will replace older models. The carrier said it received board approval for the order in January, and gained clearance from 2 govt agencies in March and April. Thailand’s cabinet is now in the process of deciding on the fleet plan, the airline said. Net profit for Q1 fell to THB456m (US$14.4m), down from THB2.7b in the same period last year. THAI recorded an operating loss of THB828m for this year’sQ1, but was boosted to a net profit by a larger gain from foreign exchange movements and other items. Revenue was down by 6.9% to THB49.8b in the quarter. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-05-17/star/thai-q1-profit-falls-on-lower-demand-seeks-major-aircraft-order
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THAI Q1 profit falls on lower demand; seeks major aircraft order
THAI reported a steep drop in profits for the March quarter, although the airline is also moving closer to gaining approval for a major aircraft order. THAI is seeking govt permission to place orders for 38 aircraft, most of which will replace older models. The carrier said it received board approval for the order in January, and gained clearance from 2 govt agencies in March and April. Thailand’s cabinet is now in the process of deciding on the fleet plan, the airline said. Net profit for Q1 fell to THB456m (US$14.4m), down from THB2.7b in the same period last year. THAI recorded an operating loss of THB828m for this year’sQ1, but was boosted to a net profit by a larger gain from foreign exchange movements and other items. Revenue was down by 6.9% to THB49.8b in the quarter. <br/>
