Thai Airways International reports Net Profit of 5,717 Million Baht in First Quarter 2004/05

Thai Airways International has reported its first quarter results for fiscal year 2004/05 (October to December 2004), whereby the net profit amounted to 5,717 million baht.

Mr. Kanok Abhiradee, THAI’s President, announced that THAI’s first quarter results for fiscal year 2004/05 (October to December 2004) amounted to a total revenue from the sale of goods and the rendering of services of 43,063 million baht, with the profit from the sale of goods and the rendering of services of 6,406 million baht, a decrease of 1,039 million baht or 13.94 percent compared to the same period last year. When other incomes and expenses were included, THAI achieved a net profit of 5,717 million baht, an increase of 1,467 million baht or 34.52 percent compared to the same period last year. Earnings per share was 3.38 baht per share when compared to the same period last year, with net profit per share of 2.81 baht.

During the first quarter, THAI experienced profit from the sale of goods and the increased expansion of services when compared to the same period last year, which resulted from implementing a more aggressive marketing plan and routenet expansion. THAI’s cabin factor during this quarter was at 73.7 percent, an increase from 73.2 percent from the same period last year.

As for expenses, an increase was experienced due to the sale of goods and the rendering of services when compared to the same period last year at 5,848 million baht or 18.98 percent, primarily due to the increased cost and use of jet fuel. During this quarter, THAI earned a net profit before interest, income tax, depreciation, and rental (EBITDAR) of 11,041 million baht.

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