For the three months to 30 June, Thai reported an operating profit of more than Bt8.5 billion ($242 million), reversing the Bt1.3 billion loss in the year-ago period.
It adds that this is its fourth consecutive profitable quarter, after it undertook business restructuring amid the pandemic.
The Star Alliance carrier saw operating revenue grow 74% year on year to Bt37.4 billion, led by a two-fold jump in passenger revenues, but offset by a 40% drop in freight earnings.
Thai carried 3.35 million passengers during the quarter, about 67% more than the year-ago period. Capacity grew about 47%, while traffic leapt 93% year on year.
Costs for the quarter rose about 25% to Bt28.8 billion, with non-fuel expenses – like flight service and crew costs – leading the increase.
Thai reported a net profit of Bt2.3 billion, reversing the Bt3.2 billion loss in the year-ago period.
As for Bangkok Airways, it posted an operating profit of around Bt792 million, swinging from the Bt440 million loss in the year-ago period.
The Samui-based carrier reported a 97% jump in revenues to Bt4.96 billion, outpacing a 31% increase in expenses to Bt4.2 billion.
Bangkok Airways carried 913,000 passengers during the quarter, a 71% increase year on year. It notes that demand picked up in the quarter as the country’s tourist arrivals grew.
The carrier posted a net profit of close to Bt670 million, reversing the Bt848 million loss last year.
The two carriers pointed to the reopening of China – a key source market for Thai tourism in pre-pandemic times and the broader east Asia region, as a major factor for the improvement in profitability.
Tags: Bangkok Airways, passengers, Star Alliance, Thai Airways International, Thai tourism, tourist arrivals