Thai Airways International announces 9 Months Financial Results at over 8 Billion Baht

Thai Airways International has announced its nine month results for fiscal year 2003/04 (October 2003 to June 2004) and its third quarter results (April to June 2004), whereby the net profit for the nine months amounted to 8,831 million baht.

Mr. Kanok Abhiradee, THAI’s President, said that THAI’s nine month result for fiscal year 2003/04 (October 2003 to June 2004) resulted in a total revenue from the sale of goods and the rendering of services at 112,176 million baht, with a profit of 17,620 million baht, an increase of 6,387 million baht or 56.9 percent compared to the same period last year. When other incomes and expenses were included, THAI achieved a net profit after taxes of 8,831 million baht, an increase of 1,808 million baht  compared to the same period last year. Earnings per share was 5.43 baht compared to previous earnings per share of 5.02 baht.

As for THAI’s operating result for the third quarter of fiscal year 2003/04 (April to June 2004), THAI earned a total revenue from the sale of goods and the rendering of services of 34,598 million baht, an increase of 10,916 million baht or 46.1 percent when compared to the same period of the last fiscal year. During this year’s third quarter, THAI experienced an increase in production from 1,909.5 million ton kilometers to 2,410.2 million ton kilometers or 26.2  percent. The increased growth rate occurred especially in the Asian region where growth rose from 718.9 million ton kilometers to 1,095.0 million ton kilometers or 52.3 percent. Revenue during this period increased due to improvements on routes that experienced flight cancellations and reductions of flights with less passenger capacity, including the opening of new destinations such as Milan, Bangalore, and Jinhong, resulting in increased revenue while being effected by increased fuel costs that caused operating costs to increase, totalling in an operating profit of 1,429 million baht.