Thai Airways International Announces Second Quarter Results

Thai Airways International today announced its second quarter results (January to March 2003) for Fiscal Year 2002/2003, whereby the net profit from operating activities during the second quarter amounted to THB 4,787 million baht.

Mr. Kanok Abhiradee, THAI’s President, announced that THAI’s operating result for the second quarter of Fiscal Year 2002/2003 amounted to a total revenue of THB 36,677 million baht and an operating profit of THB 7,371 million baht, which increased THB 744 million baht or 11.22 percent when compared to the same period last year. THAI earned a net profit of THB 4,787 million baht, which was higher than the same period last year by THB 64  million baht or 1.35 percent. Earnings per share for the second quarter was THB 3.42 baht, compared to THB 3.37 baht earnings per share in the same period last year.

In addition, Mr. Abhiradee said that during the airline’s six months operations in Fiscal Year 2002/2003 (October 2002 to March 2003), THAI announced an operating profit of THB 73,254 million baht, an increase of THB 10,134 million baht or 16.1 percent when compared to the same period  last year. Increase in operating profit during the six months of operations was a result of revenues from transportation, which increased THB 9,875 million baht or 16.5 percent. An increase in destinations served, increased capacity, and increased international flights resulted in an increase a total traffic at 10.3 percent when compared to the same period last year. When  combined with other incomes and after deducting expenses, THAI earned a net profit of THB 8,297 million baht, an increase of THB 2,523 million baht or 43.70 percent when compared to the same period last year. Earnings per share for the six months was THB 5.93 baht when compared to earnings per share of THB 4.12 baht in the same period last year.