Thai AirAsia eyes April domestic restart amid widening losses

Thai AirAsia expects to resume all domestic flights by April, even as its parent company’s full-year losses widen amid the impact from the coronavirus pandemic. The carrier’s parent Asia Aviation reported an operating loss of Bt7.55b ($251m) for the year ended 31 December. That compares with the Bt122m full-year loss it reported in 2019. Revenue for the year plunged about 61% year on year to Bt16.2b, as the coronavirus pandemic torpedoed travel demand, particularly in its international network. Thai AirAsia has halted all international flights since 22 March 2020, as borders remained shut to curb the spread of the pandemic. Full-year expenses fell 43% to Bt23.8b, as a result of reduced flying activity, as well as staff and operational cost reduction. Asia Aviation reported a net loss of Bt8.7b, widening 2019’s net loss of Bt872m. Thai AirAsia carried 9.5m passengers for the full year, about 57% lower year on year. As a result of shut borders, the Bangkok-based unit of the AirAsia Group saw a 84% decrease in international traffic.<br/>