AAV Announces Q2/2017 Financial Performance With Net Profit of Baht 171 Million Totaling First-Half of 2017 Net Profit of Baht 741 Million With High Load Factor of 88%

Stocks and Financial Services Press Releases Thursday August 10, 2017 15:46
Bangkok--10 Aug--AirAsia

Asia Aviation Plc. (AAV), majority shareholder of Thai AirAsia (TAA), announces financial performance for the second Quarter of 2017(Q2/2017) with total revenues of Baht 8,336 Million and Net Profit of Baht 171 Million, with a load factor average of 86 percent, up 3 percentage points year-on-year, and 4.69 million passengers flown. When combining for the entire first half of 2017, AAV achieves total revenues of Baht 17,486 Million and half-year Net Profit of Baht 741 Million, reaching high load factor average of 88 percent, risen by 3 percentage points, and serving 9.55 million passengers.

Mr. Tassapon Bijleveld, Chief Executive Office of AAV and TAA, said that in Q2/2017 Thai AirAsia grew according to plan with total revenues of 8,336 Million baht and net profit of 310 Million baht. Added to the first quarter of the year, the airline achieves total revenues of 17,486 Million baht and net profit of 1,346 Million baht.

Pointing to highlights during Q2/2017, Mr. Tassapon indicated TAA acquired 1 additional aircraft, bringing its fleet to 54 and expanding according to strategy both across the Indochina region and domestic regions, adding Bangkok-Danang and Chiang Mai-Ubon Ratchathani while increasing frequency from Bangkok to Khon Kaen to 5 flights per day, to Roi Et to 3 flights per day, to Penang to 2 flights per day, to Phnom Penh to 3 flights per day, from Chiang Mai to Surat Thani to 2 flights per day, from Hat Yai to Kuala Lumpur to 2 flights per day, and from Pattaya (U-Tapao) to Udon Thani to 2 flights per day.

In the latter half of 2017, Thai AirAsia will focus on new routes to India as it is a high potential market both in terms of investment and tourism. On July 31, 2017, TAA launched 2 routes to India, flying from Bangkok to Jaipur 4 times per week and Bangkok to Tiruchirappalli 4 times per week. The airline previously introduced daily direct flights from Bangkok to the Maldives, a much anticipated route. Domestically, the airline will continue to focus on creating interregional connections in response to their positive growth and strong feedback.

For the second half of 2017, Thai AirAsia has targeted to add 3 more aircraft to bring its total fleet to 57 by end of the year (Throughout 2017, Thai AirAsia will have received a total of 6 aircraft) in order to keep up with growth and business opportunities, aiming to achieve load factor average of 84 percent and 19.5 million passengers served.

AirAsia Group has been able to hold on to its champion title for World's Best Low Cost Airline according to worldwide votes compiled by Skytrax for a ninth consecutive year (2009-2017), reaffirming success of its quality brand and international acceptance.

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