THAI turns to net profit in Q4
THAI returned to profit in Q4, shrinking its 2015 loss as a restructuring that reduced operating costs and boosted passenger revenues bore fruit. Net profit was THB5.4b (US$151m) for the October-December quarter, compared to a net loss of THB6.2b a year earlier, CFO Narongchai Wongthanavimok said. For 2015, the airline posted a net loss of THB13bt ($364m), narrower than the THB15.6b net loss in 2014. Total operating revenue fell 1.2% last year to TB188.7b, while operating expenses dropped 11.2%. Cost cutting and expanding its customer base will remain the focus of the carrier this year, president Charumporn Jotikasthira said, adding the airline would spend THB2b ($56.1m) on voluntary retirements this year, on top of the THB5b paid out last year. Cabin factor is also forecast to rise to 80% in 2016 from 72.9% in 2015. <br/>
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THAI turns to net profit in Q4
THAI returned to profit in Q4, shrinking its 2015 loss as a restructuring that reduced operating costs and boosted passenger revenues bore fruit. Net profit was THB5.4b (US$151m) for the October-December quarter, compared to a net loss of THB6.2b a year earlier, CFO Narongchai Wongthanavimok said. For 2015, the airline posted a net loss of THB13bt ($364m), narrower than the THB15.6b net loss in 2014. Total operating revenue fell 1.2% last year to TB188.7b, while operating expenses dropped 11.2%. Cost cutting and expanding its customer base will remain the focus of the carrier this year, president Charumporn Jotikasthira said, adding the airline would spend THB2b ($56.1m) on voluntary retirements this year, on top of the THB5b paid out last year. Cabin factor is also forecast to rise to 80% in 2016 from 72.9% in 2015. <br/>
