Thai AirAsia net profit down 51% in 1Q2019, unit revenue declines 10%

13 May, 2019

Asia Aviation reported (10-May-2019) the following financial highlights for Thai AirAsia for the three months ended Mar-2019:

Total revenue: THB11,622 million (USD367.3 million), -0.2% year-on-year;
- Ancillary revenue: THB2060 million (USD65.1 million), +8.9%;
Total expense: THB10,494 million (USD331.6 million), +10.0%;
- Percentage share of expenses:
  - Fuel: 34.6%, -0.9ppt;
  - Labour: 15.7%, -0.2ppt;
  - Aircraft and aircraft engine rental: 12.8%, -0.1ppt;
  - Ramp and airport operating cost: 12.6%, +1.2ppts;
  - Repair and maintenance: 8.4%, +0.5ppt;
Profit before finance costs and income taxes: THB1129 million (USD35.7 million), -46.4%;
Net Profit: THB902.9 million (USD28.5 million), -50.8%;
Average fare: THB1554 (USD49.1), -6.6%;
Revenue per ASK: THB1.62 (USD 5.1 cents), -10.0%;
Cost per ASK: THB1.53 (USD 4.8 cents), stable;
Cost per ASK excluding fuel: THB1.00 (USD 3.2 cents), +1.0%;
Total assets: THB38,346 million (USD1212 million);
Total liabilities: THB29,799 million (USD941.6 million). [more - original PR]

*Based on the average conversion rate at THB1 = USD0.0316