AAV Announces 2016 Operational Results with Net Profit of Baht 1,869.5 million From Total Revenues of Baht 32,400.6 million Launched 12 Routes over the year to strengthen its regional and CLMV networks

Stocks and Financial Services Press Releases Friday February 24, 2017 11:35
Bangkok--24 Feb--AirAsia

Asia Aviation Plc. (AAV), major shareholder of Thai AirAsia Co. Ltd (TAA), reveals that despite tighter regulations on the tourism business in Q4/2016, which affected the number of foreign tourists arriving in Thailand, the company in Q4/2016 however achieved revenues of Baht 7,546.7 million with net profit of Baht 41.3 million and was able maintain an average load factor of 82 percent, an 8 percent increase year-on-year, totaling 4.4 million passengers. Overall in 2016, AAV achieved net profit of Baht 1,869.5 million, up by Baht 791.0 million from 2015 which had net profit of Baht 1,078.5 million. AAV in 2016 also achieved an average Load Factor of 84 percent, hitting its passenger target of 17.2 million passengers flown. The success has been derived from the stronger flight network, the penetration in CLMV market and an addition in regional domestic flights.

Mr. Tassapon Bijleveld, CEO of Asia Aviation Plc. and Thai AirAsia Co. Ltd., said that in 2016 Thai AirAsia added 12 new routes to expand its own business opportunities. The airline introduced its first Thai-Lao connections with flights from Bangkok to Luang Prabang and Vientiane, established its sixth airport hub in Hat Yai and added several well-received regional connections in domestic. In Q4/2016, TAA had net profit of Baht 79.6 million with total revenues at Baht 7,546.7 million, while for the entire 2016 its net profit was Baht 3,408.2 million, a 71 percent increase year-on-year, with total revenues at Baht 32,400.6 million.

"We were affected by strict government's measure of tour operators and the national mourning period in Q4/2016. However, through adaptation and the ability to seek out new opportunities we were able to achieve satisfactory performance in the quarter and ended the year with the highest revenues and net profit figures we have seen in our 13 years of operation. In the last quarter of the year we acquired our first 2 Airbus A320 neo, which use 15 percent less fuel consumption, and ended the year with a fleet of 51 aircraft," Mr. Tassapon said.

For 2017, Mr. Tassapon added AAV plans to add 6 more aircraft to bring its fleet to 57 aircraft while continuing to strengthen its domestic regional services. For international routes, the airline will focus on the CLMV and Indian markets, which are both substantial and growing with ample potentials. Its passenger target for the year is 19.5 million passengers served and an average load factor of 84 percent.

Latest Press Release

Poland-Based Debt Purchaser GetBack S.A. Outlook Revised To #B/B# Ratings Affirmed

MOSCOW (S&P Global Ratings) Feb. 19, 2018--S&P Global Ratings said today that it has revised its outlook on Poland-based distressed-debt purchaser GetBack S.A. to positive from stable. At the same time, we affirmed our 'B' long-term and 'B'...

Trade/Project Financier, Bachmann Welser To Launch USD 2 billion Project Finance Fund

Global Trade/Project Financier, Bachmann & Welser will launch a USD 2 billion Project finance fund in March 2018 with funds that will be backed by several private and institutional investors. (Logo:...

Photo Release: SCB and Thaioil toast first long-term financing for project investment and development in Vietnam

To constantly help clients expand to overseas markets, Siam Commercial Bank (SCB) is supporting Top Solvent (Vietnam) Liability Co., Ltd., a company under Thaioil Group, with a long-term loan of 310,791 million VND for project investment and development...

Photo Release: Maybank Kim Eng signs MOU with Stamford International University

Mr. Sukit Udomsirikul, Managing Director and Head of Research Department, Maybank Kim Eng Securities (Thailand) Public Company Limited and Dr. Andrew Scown, President of Stamford International University signed a Memorandum of Understanding (MOU) which...

KTC PROUD members rejoice!! Register today for 1 billing cycle interest and usage fee exemption.

"KTC" or Krungthai Card Public Company Limited, organizes the "2-get-1" campaign, providing value-oriented Thais with special privileges for their necessities, and to lighten the familial load in various forms, in order to prepare for every financial...

Related Topics