Thai Airways Group has posted a net profit of THB6.51 billion ($219 million) for 2012, reversing a loss of THB10.16 billion ($342 million) in 2011. Group revenues rose by 10% to THB213.53 billion but this has been distorted by the inclusion of Nok’s revenues that were not accounted for in 2011.
Thai Airways (including Thai Smile) reported a 5% increase in revenues to THB204.26 billion and a net profit of THB4.43 billion, with passenger revenues rising by 7% to THB165.49 billion even though cargo revenues dipped by 5% to THB26.75 billion.
The 7% increase in passenger revenues at Thai/Thai Smile was driven by a 10% increase in RPKs and a 12% increase in passenger numbers to 20.6 million. ASKs were up only 1%, resulting in a significant 6.2ppt improvement in load factors to 76.2%.
Thai Airways turns a profit in 2012
