Thai Airways revenue down 19.1%, but back in the black in FY2009

Thai Airways revenue down 19.1% - financial highlights for the 12 months ended 31-Dec-2009:

• Total revenue: USD4,964 million, -19.1% year-on-year;
• Total cost: USD4,719 million, -31.1%;
  • Fuel: USD1,424 million, -47.4%;
  • Labour: USD793.4 million, -14.2%;
• Gains on foreign currency exchange: USD95.9 million, compared to a loss of USD135.4 million in the previous corresponding period;
• Profit before income tax: USD245.6 million, compared to a loss of USD714.9 million in the previous corresponding period;
• Net profit: USD222.5 million, compared to a loss of USD647.7 million in the previous corresponding period;
• Passenger numbers: 18.5 million, -12%;
• Load factor: 73.0%, -1.8 ppt;
• Yield: USD 54.5 cents, -9.6%;
  • Passenger yield: USD 6.21 cents, -10.1%;
  • Cargo yield: USD 21.60 cents, -12.3%. [more]

*Based on the conversion rate at USD1 = THB33.01

Thai Airways: "Passenger yield having decreased 10.1% from last year from the tough pricing environment. As a result, the Company adjusted marketing strategies to stimulate sales and maintain its market share. Freight yield decreased 12.3% from last year due to price competition," Company statement. Source: Thai Airways, 26-Feb-2010.