Thai Airways loss improves in 2Q2016, profitable in 1H2016

Thai Airways revenue down 1% - financial highlights:

• Three months ended 30-Jun-2016:
• • Total operating revenue: THB41,243 million (USD1170 million), -1.3% year-on-year;
  • • Passenger and excess baggage: THB33,508 million (USD950.3 million), -1.6%;
    • Cargo: THB4392 million (USD124.6 million), -1.7%;
  • Total operating costs: THB43,025 million (USD1220 million), -7.5%;
  • • Fuel: THB11,752 million (USD333.3 million), -21.3%;
  • Operating profit (loss): (THB1782 million) (USD50.5 million), compared to a loss of THB4713 million (USD141.8 million) in p-c-p;
  • Net profit (loss): (THB2915 million) (USD82.7 million), compared to a loss of THB12,754 million (USD383.7 million) in p-c-p;
  • Passenger numbers: 5.1 million, +0.8%;
  • Passenger load factor: 69.0%, -0.2 ppt;
  • Passenger yield: THB2.38 (USD 6.7 cents), stable;
  • Cargo yield: THB8.32 (USD 23.6 cents), -5.0%;
• Six months ended 30-Jun-2016:
• • Total operating revenue: THB91,426 million (USD2579 million), -2.1%;
  • • Passenger and excess baggage: THB75,553 million (USD2131 million), -2.6%;
    • Cargo: THB8804 million (USD248.3 million), -6.1%;
  • Total operating costs: THB86,029 million (USD2427 million), -8.2%;
  • • Fuel: THB22,593 million (USD637.3 million), -23.2%;
  • Operating profit: THB5397 million (USD152.2 million), compared to a loss of THB297 million (USD9.0 million) in p-c-p;
  • Net profit: THB3095 million (USD87.3 million), compared to a loss of THB8205 million (USD249.1 million) in p-c-p;
  • Passenger numbers: 11.0 million, +3.1%;
  • Passenger load factor: 73.3%, +0.9 ppt;
  • Passenger yield: THB2.45 (USD 6.9 cents), -2.0%;
  • Cargo yield: THB8.25 (USD 23.3 cents), +0.2%;
  • Total assets: THB292,895 million (USD8261 million);
  • Cash and cash equivalents: THB15,405 million (USD434.5 million);
  • Total liabilities: THB257,923 million (USD7275 million). [more - original PR]

*Based on the average conversion rate at THB1 = USD0.028359 for 2Q2016
*Based on the average conversion rate at THB1 = USD0.028206 for 1H2016
*Based on the average conversion rate at THB1 = USD0.030083 for 2Q2015
*Based on the average conversion rate at THB1 = USD0.030355 for 1H2015

Thai Airways: "The forecast situation of the aviation industry in the next six months of 2016 is forecast to grow only slightly by the global economic recovery, but there are still factors that could affect the global economy, including China, with effect from Brexit (British Exist) which will be expected to impact the economy and financial markets of the United Kingdom and Europe combining with the risk of terrorism which alters behavior of tourists to avoid traveling in the region are vulnerable to terrorism. On the other hands oil prices are expected to remain low but higher than in the first half of 2016 and forecast to remain at a level of 50-60 USD per barrel." Source: Company statement, 15-Aug-2016.