Thai Airways net profit declines 84% in 1Q2019, operating revenue drops while cost rises

    Thai Airways reported (16-May-2019) the following financial highlights for the three months ended 31-Mar-2019:

    • Total operating revenue: THB49,791 million (USD1573 million), -6.9% year-on-year;
      • Passenger and excess baggage: THB41,024 million (USD1296 million), -7.0%;
      • Cargo: THB4648 million (USD146.9 million), -12.9%;
    • Total operating costs: THB50,619 million (USD1600 million), +2.0%;
      • Fuel: THB14,045 million (USD443.8 million), +0.1%;
    • EBITDA: THB4504 million (USD142.3 million), -49.8%;
    • Operating profit (loss): (THB828 million) (USD26.2 million), compared to a profit of THB3836 million in p-c-p;
    • Net profit: THB456 million (USD14.4 million), -83.6%;
    • Passenger yield: THB2.20 (USD 7.0 cents), -4.3%;
    • Cargo yield: THB8.17 (USD 25.8 cents), +0.4%;
    • Total assets: THB267,277 million (USD8446 million);
      • Cash and cash equivalents: THB13,686 million (USD432.5 million);
    • Total liabilities: THB243,700 million (USD7701 million).