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Thai Airways Q1 to Dec net profit falls 33% on soaring jet fuel costs

BANGKOK (XFNews) - Soaring jet fuel prices slashed net profits for flag carrier Thai Airways International by 33.36 pct year-on-year in the first quarter to December, the company said.

Net profit stood at 3.81 bln baht, the airline said in a statement through the Stock Exchange of Thailand.

"Net profit dropped year-on-year because overall jet fuel prices surged 25.3 pct during the quarter and the cost of jet fuel for Thai Airways jumped 29.3 pct year-on-year," a company spokeswoman said.

Personnel cuts and trimmed marketing costs did nothing to stem the losses, the spokeswoman said.