Thai AirAsia reports strong profit growth in 2016

Thai AirAsia revenue down 1% - financial highlights:

• Three months ended 31-Dec-2016:
• • Revenue: THB7547 million (USD212.7 million), -1.1% year-on-year;
  • • Ancillary: THB1402 million (USD39.5 million), +7.1%;
  • Profit before finance costs and tax: THB138.4 million (USD3.9 million), -78.6%;
  • Net profit: THB79.6 million (USD2.2 million), -84.7%;
  • Passengers: 4.4 million, +8%;
  • Passenger load factor: 82%, stable;
  • Revenue per ASK: THB1.45 (USD 4.1 cents), -8.2%;
  • Cost per ASK: THB1.42 (USD 4.0 cents), -7.8%;
  • Cost per ASK excl fuel: THB1.02 (USD 2.9 cents), -1.0%;
• 12 months ended 31-Dec-2016:
• • Revenue: THB32,401 million (USD916.4 million), +9.8%;
  • Profit before finance costs and tax: THB3745 million (USD105.9 million), +43.9%;
  • Net profit: THB3408 million (USD96.4 million), +71.2%;
  • Passengers: 17.2 million, +16%;
  • Passenger load factor: 84%, +3 ppts;
  • Revenue per ASK: THB1.57 (USD 4.4 cents), -3.7%;
  • Cost per ASK: THB1.42 (USD 4.0 cents), -7.2%;
  • Cost per ASK excl fuel: THB1.02 (USD 2.9 cents), +4.1%;
  • Total assets: THB32,739 million (USD925.9 million);
  • Total liabilities: THB23,449 million (USD663.2 million). [more - original PR]

*Based on the average conversion rate at THB1 = USD0.028189 for 4Q2016
*Based on the average conversion rate at THB1 = USD0.028282 for 2016

AirAsia: "In Thailand, load factor in the first quarter of 2017 is forecast to be 87%. There are efforts taken by the Thai government to boost tourist arrivals into Thailand which includes waiving of visa fees for tourists for a short period of time. As with Malaysia, we see encouraging forward bookings in the remaining quarters of 2017. TAA will continue to focus its marketing activities on domestic, China and India routes in the remaining quarters of 2017." Source: Company statement, 23-Feb-2017.