18-Aug-2009 10:14 AM

Thai Airways expects net profit of up to USD206 million for 2009

Thai Airways stated it expects to report a net profit of USD176 million to USD206 million in 2009, after reporting a net profit of USD73.4 million in 1H2009 (Reuters, 18-Aug-09). The carrier also expects demand to start improving from this month, and resultantly report an operating profit in 3Q2009. Load factor in Aug-2009 to date is approximately 77%, compared to 71% in Jul-2009 and 65.1% in Jun-2009.

Thai Airways: "Overall, the [domestic] political situation is becoming more stable, the economy is starting to recover and our expenses are under control...All in all, we could be back to normal this year…As we are moving into the high tourist season in the third and fourth quarters, it just needs about THB3.5 billion (USD103 million) to reach the target...That's not so difficult for us," Raj Tanta-Nanta, VP for Investor Relations. Source: Reuters, 18-Aug-09.

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