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Thai airways reports loss of 122% in Q2

Thai airways reports loss of 122% in Q2

BANGKOK: Thai Airways has reported a loss of B6.8 billion in the second quarter of 2019. Thai Airways submitted a filing to the Stock Exchange of Thailand, reporting the net loss of B6.8bn for Q2 2019, equaling 122% compared to last year, while its year-on-year revenue decreased by 10%.

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By National News Bureau of Thailand

Thursday 15 August 2019, 12:20PM


Thai Airways has reported a loss of B6.8 billion in the second quarter of 2019. Photo: via NNT

Thai Airways has reported a loss of B6.8 billion in the second quarter of 2019. Photo: via NNT

Airline President Sumeth Damrongchaitham said the factors include the strongest Thai baht in seven years, leading to a difficult competitive environment due to its inability to reduce the ticket price. The 5% increase in the value of the baht since beginning of the year also cost the national carrier lose 5%.

Mr Sumeth also said that the airline’s revenue is being affected by the conflict between India and Pakistan, which means the airline lost a number of Pakistani passengers.

Other factors included the falling number of Chinese tourists due to the appreciation of the Yuan compared to Thai baht, reflecting a change of destination choice from Thailand to other countries such as Japan, South Korea and Vietnam, he said.

For external factors, Mr Sumeth blamed 12 aircraft being grounded for maintenance, which has led to a decrease in the number of flights being made available, as affecting the airline’s profitability during the quarter.

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However, the airline plans to open a new route to Sendai city in Japan, as the Japanese market accounts for one third of the total revenue of the carrier, Mr Sumeth said.

 

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Christy Sweet | 19 August 2019 - 11:57:43

Editor, Please spare us from the constant ad hominem -def- "Typically refers to a fallacious argumentative strategy whereby genuine discussion of the topic at hand is avoided by instead attacking the character, motive, or other attribute of the person making the argument."

Kurt | 19 August 2019 - 10:21:21

All the other leading airlines make profits. They are well managed. They can handle more type of air crafts in service. Thai Air is not well managed and looses a lot of money. With just 2 type of air crafts only perhaps the management will be able to manage a airline.

DeKaaskopp | 18 August 2019 - 18:09:31

Reg.:Suggestion of having 2 types of air crafts only" A quick look at fleets of leading Asian,Middle Eastern or European airlines shows that all of them have at least 4 different types of air crafts.Question arises now,whether  all those airlines are mismanaged to do so or whether the serial poster shows his incompetence again.

Rorri_2 | 18 August 2019 - 06:45:18

Mr Dek.. " therapeutic" dancing, is no different to a "therapeutic" holiday in a monastery, something you should attend, you claim Kurt is always wrong, yet you add nothing to counter his claim... you only try to discredit his intelligence by showing you have very little, please, add some intelligence to any debate. 

DeKaaskopp | 17 August 2019 - 08:40:10

R2. please google "Waldorf school/Name dancing",you can learn something!

ematt | 16 August 2019 - 18:52:53

Editor, please spare us from some of these incessant, non-sensical ramblings. That is the meaning of the word "edit", right?

Rorri_2 | 16 August 2019 - 14:57:45

"Reg.:"What is their educational and experience back "round""[sic]You know K," picky, picky, picky, nothing to add, so now picking on simple typos, man, what a sad example you mankind, but hey, I understand Kurt... but this baffles me "and therefore even being able now to dance your own name."

Kurt | 16 August 2019 - 14:52:22

Pascale, 2 types of air crafts is a suggestion. More types means less flexible cockpit crew planning, more different simulator training, more different technical maintenance staff, more different spare parts dealing.. 2 Types of aircrafts, 1 for international, and 1 for domestic flights. That reduce the management.maintenance costs enormously.

Kurt | 16 August 2019 - 14:42:10

Dek, your reaction doesn't make sense. Compare Thai Airways results with that of other asian and middle east airlines. Than share your conclusions with us. This is not a personal matter.

DeKaaskopp | 16 August 2019 - 12:51:10

Reg.:"What is their educational and experience back "round""You know K,not everyone can have your knowledge and your privilege to have visited a "Waldorf School"and therefore even being able now to dance your own name.

Pascale | 16 August 2019 - 11:12:21

"and have only 2 types of air crafts..." What international airline does have only 2 types of air crafts?

Kurt | 15 August 2019 - 15:09:56

Funny, all these 'cheap charlie' excuses for the enormous losses. Losses other international airlines not report. Strong baht? Deal with it. Excuse Pakistan-India conflict? Nonsense. It is 'Hosanna' about indian tourist visits. Will be the same about pakistani. More than 10% of the fleet grounded for 'maintenance'! Can't call that a external factor. It is a simple inter...

Kurt | 15 August 2019 - 14:55:22

Time Thai Airways CEO's ( what is their educational and experience back round?) should study other successful foreign airlines methods to make profits under the same international economical circumstances.
Something internal must be wrong Thai Airways management wise. Fleet renewing, and only have 2 types of air crafts is essential and needed.

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