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​Thai AirAsia parent Q1 operating profit halves

May 13, 2019 / GREG WALDRON

The parent company of Thai Airasia, Asia Aviation, first quarter operating profit fell 46% to Bt1.1 billion ($34.7 million). Revenue for the quarter ended 31 March was flat at Bt11.6 billion, but expenses rose 10% to Bt10.5 billion. Net profit fell 50% to Bt497million. The company says that fuel costs rose during the quarter, as did airport and MRO costs. Despite this, the carrier’s CASK was flat compared with a year ago at Bt1.53 due to a 10% increase in ASKs and a longer average stage length. RPKs grew 9%, while load factor was flat at 91%. The carrier’s average fare for the first quarter was Bt1554, down 7%. Cash and cash equivalents were Bt4.1 billion on 31 March, down from Bt5.97 billion a year earlier.