Thai AirAsia reports sharp profit declines in 1Q2017

Thai AirAsia reported (May-2017) the following financial highlights for three months ended 31-Mar-2017:

• Revenue: THB9150 million (USD259.8 million), +2.2% year-on-year;
  • Ancillary: THB1568 million (USD44.5 million), +6.7%;
• Profit before finance costs and income taxes: THB1231 million (USD34.9 million), -40.1%;
• Net profit: THB1036 million (USD29.4 million), -43.5%;
• Passengers: 4.9 million, +11%;
• Passenger load factor: 89%, +1ppt;
• Average fare: THB1569 (USD44.6), -8.9%;
• Revenue per ASK: THB1.72 (USD 4.9 cents), -4.4%;
• Cost per ASK: THB1.56 (USD 4.4 cents), +8.3%;
• Cost per ASK excl fuel: THB1.08 (USD 3.1 cents), +2.9%;
• Total assets: THB34,759 million (USD987.1 million);
• Total liabilities: THB24,434 million (USD693.9 million). [more - original PR]

*Based on the average conversion rate at THB1 = USD0.028398