Asia Aviation Public Company Limited, the major shareholder of Thai AirAsia, announced its second quarter 2569 results, with revenue from sales and services of 10.046 billion baht, up 2 percent from the same period last year, but a net loss of 2.326 billion baht because jet fuel prices surged to a record high of 124 percent, reaching 183 US dollars per barrel. This pushed total fuel expenses up 43 percent to 5.011 billion baht. Although the airline cut seat capacity by 13 percent to 5.14 million seats and raised average fares by 27 percent, it still carried 4.03 million passengers and posted EBITDA of 25 million baht. Core operating loss for the quarter was 2.091 billion baht, while the first-half core operating loss was 440 million baht. On cost control, selling and administrative expenses fell 17 percent and staff costs fell 12 percent, but unit cost excluding fuel rose 13 percent to 1.43 baht. The airline maintained the highest domestic market share at 37 percent and raised 3.815 billion baht through a new bond issue in June 2569. Chief Executive Officer Mr. Phairat Pornpathananangoon said that in the fourth quarter the airline will increase aircraft utilisation to 52 aircraft and resume services at both Don Mueang and Suvarnabhumi airports, and expects to return to profitability during the peak travel season at the end of the year.
Asia Aviation Public Company LimitedJet fuel prices surged to record high, increasing fuel expenses 43% and causing net loss.
