Asia Aviation (Thai AirAsia) Reports Q1 2017 Net Profit of Baht 570 million

Thu, 11 May 2017

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Asia Aviation (Thai AirAsia) Reports Q1 2017 Net Profit of Baht 570 million

Asia Aviation (AAV), the major shareholder of Thai AirAsia, has reported Q1 2017 total revenues of Baht 9,150 million and a net profit of Baht 570 million.

The airline also achieved a record load factor of 89%, up 1 percentage point, with 4.85 million passengers carried, an 11% year-on-year increase. Total seat capacity grew by 9%.

Thai AirAsia took delivery of an Airbus A320 and an Airbus A320neo, contributing to a total fleet of 53 aircraft by the end of Q1 2017.

Mr. Tassapon Bijleveld, CEO of AAV and Thai AirAsia, said that in Q1 2017 Thai AirAsia continued with its plans to strengthen its “Interregional Connections” within Thailand.

Thai AirAsia Airbus A320-216 HS-BBP s/n 6405 at Don Mueang Airport in Bangkok, Thailand

Thai AirAsia launched 2 new routes during the quarter including daily flights from its U-Tapao hub to Ubon Ratchathani and Phuket. The airline also increased flight frequencies in the CLMV market by increasing the Don Mueang-Mandalay (Myanmar) route to 2 times daily.

“We believe in our plans and our capital management, which have allowed us to achieve satisfactory growth. In Q1 2017, Thai AirAsia had total revenues of Baht 9,150 million and net profit of Baht 1,036 million,” Mr. Tassapon said.

For Q2 2017, Thai AirAsia will launch daily flights between Don Mueang and Danang (central Vietnam) from 9 June 2017. In early April 2017, the airline increased flights between Don Mueang and Khon Kaen from 4 to 5 flights a day and between Don Mueang and Roi-Et from 2 to 3 flights a day.

Thai AirAsia’s targets for 2017 remain growing its fleet to 57 aircraft, serving 19.5 million passengers and maintaining an Average Load Factor of 84%.

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