from 77.3% in the same period last year. THAI and its subsidiaries reported the total expenses, excluding one-time items, of 38,636 million baht, higher than the previous year which was 29,289 million baht. The majority of this increase was due to variable costs associated with higher production and transportation volumes with fuel expense amounting to 13,550 million baht (or 35.1% of the total expenses excluding one-time items). THAI and its subsidiaries reported the operating profit, before financial costs and excluding one-time items, of 7,192 million baht, lower than 7,719 million baht in Q3/2023. THAI and its subsidiaries recorded financial costs in accordance with Financial Reporting Standard No. 9 (TFRS 9) amounting to 4,829 million baht and one-time items of 10,119 million baht, mainly due to gain on foreign exchange rates. Consequently, THAI and its subsidiaries reported a net profit of 12,483 million baht, compared to 1,546 million baht in the same period last year. Earnings before interest, tax, depreciation and amortization (EBITDA) after cash payments for aircraft lease agreement including Power by the Hour expenses for actual aircraft usage, was
6,655 million baht. In the first nine months of 2024, THAI and its subsidiaries reported the total revenue, excluding one-time items, of 135,810 million baht, representing a 17.2% increase compared to the same period last year, which had a total revenue of 115,897 million baht. The total expenses, excluding one-time items was 111,617 million baht, representing a 28.9% increase compared to the same period last year, which had total expenses of 86,567 million baht. THAI and its subsidiaries reported the operating profit, before financial costs and excluding one-time items, of 24,193 million baht, a decrease of 17.5% from the same period last year, which was 29,330 million baht. THAI and its subsidiaries recorded financial costs in accordance with Financial Reporting Standard No. 9 (TFRS 9) amounting to 14,233 million baht and one-time items of 5,273 million baht, mainly due to adjustments for expired passenger ticket, gain from debt restructuring, and gain on foreign exchange rates, however, impairment loss of assets mainly from A380-800 aircraft. Consequently, THAI and its subsidiaries reported a net profit of 15,221 million baht, compared to a profit of 16,342 million baht in the same period last year. EBITDA after cash payments for
aircraft lease agreement including Power by the Hour was 25,056 million baht. As of 30 September 2024, THAI operated with 77 aircraft in total, consisting of 20 narrow-body and 57 wide-body aircraft. THAI took deliveries of two operating lease wide-body aircraft in October, a total of nine additional aircraft in 2024. During the first nine months of 2024, the average aircraft utilization of
THAI was 13.0 hours per aircraft per day. Passenger production or Available Seat Kilometer (ASK)
increased by 19.2% while passenger traffic or Revenue Passenger Kilometer (RPK) increased by 15.3%, affecting an average cabin factor of 77.4%, lower than the previous ycar which was 80.0%. The total
number of passengers carried was 11.62 million, an increase of 14.7% from the same period last year. As of 30 September 2024, total assets were 263,743 million baht, an increase of 24,752 million baht or10.4% from 31 December 2023. Total liabilities were 291,684 million baht, an increase of 9,551 million
baht or3.4% from 31 December 2023. The shareholders' equity of THAI and its subsidiaries amounted to -27,941 million baht, improved by 15,201 million baht from 31 December 2023, due to the positive financial performance. As of 30 September 2024, THAI has cash, bill of exchange, fixed deposits with maturities exceeding 3 months and not over 1 year, and debentures maturing within 1 year of 82,587
million baht. During the first nine months of 2024, THAI had paid 3,531 million baht of debt repayment in accordance with the Rehabilitation Plan.