Thai Airways International Announces First Quarter Results for Fiscal Year 2002/2003

Thai Airways International Public Company Limited announced its first quarter results (October to December 2002) for Fiscal Year 2002/2003, whereby the net profit from operating activities during the first quarter amounted to THB 3,509 million Baht.

Mr. Kanok Abhiradee, THAI’s President, announced that THAI’s operating result for the first quarter of Fiscal Year 2002/2003 (October to December 2002) amounted to a total revenue of THB 36,577 million baht and an operating profit of THB 6,381 million baht. Compared to the same period last  year, the net operating result increased THB 5,475 million baht or 604.2 percent.

When other incomes and expenses were included, THAI held a net profit of THB 3,509 million baht which was higher than the same period last year by  THB 2,459 million baht or 234.2 percent and earnings per share was THB 2.51 baht, compared to THB 0.75 baht per share in the same period last year.

For this quarter, THAI’s revenue increased when compared to the same quarter last year, of which revenue declined as a result of 9-11. The revenue increase is a result of the airline’s competitive marketing plan and the  introduction of new destinations to the routenet, including the increase in number of passengers and tourists due to their confidence in the safety of traveling to Thailand. As a result, the cabin factor for the quarter is 72.0 percent, increased from that of the same period last year, of which the cabin factor was 67.6 percent. On the expense side, despite the increase in expense due to the increase in capacity and traffic, the expenses increased at a lower rate than the increased rate of revenue. Therefore, THAI’s  operating result for the first quarter is higher than that of the previous year.