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9-Nov-2018 10:29 AM

Thai Airways reports 'intense' competition, reduced demand and higher fuel costs in 3Q2018

Thai Airways reported (08-Nov-2018) competition remained "intense" in 3Q2018 and noted a reduction in travel demand and an increase in operating costs due to rising oil prices. The airline was also impacted by natural disasters in Sep-2018, including typhoon Jebi in Japan and typhoon Mangkhut in Hong Kong. Chinese tourist arrivals were negatively impacted mainly due to the "boat tragedy" in Phuket. Cost increased 11.3% year-on-year in 3Q2018 due to a 29.4% increase in fuel expenses. Non-fuel operating expenses increased 5.5%, mainly due to growth in maintenance and leasing costs. Revenue increased 2.2% due to growth in passenger and excess baggage revenue, which was driven by an 0.8% increase in passenger traffic. Freight and mail revenue increased 10.9% and other revenue increased 12.3%. [more - original PR] [more - original PR - Thai]

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