THAI Board of Directors president Ampon Kitti-ampon said net profit last year was B6.2 billion while the combined profit of the flag carrier and its subsidiaries, Nok Air and Thai Smile, reached B6.5 billion.
He said the international aviation business overall had improved last year despite a global economic slowdown and tough competition, domestically and internationally.
THAI’s operations were severely affected by the massive floods in late 2011, compelling it to adversely adjust its marketing strategy by offering tickets at lower prices to stimulate passengers to fly with THAI, Mr Ampon said.
He said the airline boosted its competitive edge last year with ownership of more shares at Nok Air and launching Thai Smile, to expand and strengthen the corporation’s aviation network.
The airline made an impressive passenger load factor (PLF) in 2012 – the highest in five years – at an average utilisation of 76.6 per cent, representing an increase from 70.4 per cent in the preceding year. PLF is a measure to calculate the average occupancy on various routes of an airline.
Of THAI’s B213.5 billion revenue last year, B8.3 billion was from Nok Air’s operations, B1.6 billion from profit in buying the Nok Air business, and B10 billion from operating revenue.
THAI, which is listed on the SET, reported total assets of B304 billion as of December 31, 2012, an increase of B30.1 billion from 2011, and liabilities at B234.3 billion, an increase by B23.2 billion.
Mr Ampon said THAI’s operating performance in January was satisfactory with 1.89 million passengers, an increase of 0.14 million passengers, or 8.1 per cent, from January 2011.