Thai AirAsia net income up on traffic growth and lower fuel costs in 1Q2016

Thai AirAsia attributed (12-May-2016) a 99% year-on-year increase in net income in 1Q2016 to a 16% increase in revenue driven by an 18% increase in passenger numbers and a significant decrease in fuel costs. Fuel cost per ASK decreased 34%. Ancillary revenues increased 17%, mainly through increased checked baggage fees, online processing fees and inflight meal revenues. The average airfare increased 2%. A 5ppt increase in load factor to a record 88% was attributed to growth in Thailand's tourism industry. [more - original PR]