2023-05-12 06:10:26
Thai Airways Public Company Limited or THAI Reporting the results of the first quarter of 2023 of Thai Airways and its 5 subsidiaries: 1. Thai-Amadeus Southeast Asia 2. Wingspan Services 3. Thai Smile Airways 4. Thai Flight Training Company and 5. Royal Eurang Tour Company
Thai Airways and its subsidiaries have total revenues (excluding non-recurring items) amounted to 41,507 million baht, an increase of 271%; net profit of 12,523 million baht, an increase of 486% (compared to the same period last year, a loss of 3,247 million baht), which can be summarized as follows:
1. Revenue from Thai Airways and its subsidiaries
– Revenue from passenger fare and excess weight amount 34,978 million baht An increase of 681% due to this quarter increasing flight frequency on popular routes such as Japan, South Korea, and from March 1, 2023 began to return to open routes to China.
– Passenger transport volume increased by 469%, amounting to 20,800 million baht. has an average cabin factor of 83.5% 32.5% higher than the same period last year
– Revenue from transportation and mail amounted to 4,363 million baht, a decrease of 16.4%.
– Revenue from other businesses, including ground aviation, catering, warehousing services and income from supporting activities, amounted to 1,960 million baht, an increase of 46.4% from the increase in the number of airline customers.
– In the first quarter of this year, there were one-time items. Mainly due to profit from debt restructuring. Profit from selling assets and foreign exchange gains Total income was 2,987 million baht, higher than last year by 945 million baht.
2. Expenses
– Total expenses (excluding non-recurring items) amounted to 28,473 million baht, an increase of 98.4% due to the expansion of production as follows: 1. Jet fuel costs amounted to 12,052 million baht, accounting for 42.3% of total expenses. from an increase in the number of flights and a 9.7% increase in fuel prices. 2. Operating expenses amounted to 16,421 million baht, an increase of 62.6%.
3. Net profit
– Net profit of 12,523 million baht, an increase of 486% compared to the same period last year, a loss of 3,247 million baht.
– Gain from debt restructuring in the amount of 2,640 million baht.
– Gain from contract termination, gain from eliminating financial liabilities by amortized capital method and loss from adjusting liabilities under the rehabilitation plan.
– Gain from the sale of assets of 363 million baht 1. Sale of 1 B747-400 aircraft in the amount of 9 million baht 2. Sale of assets in the amount of 354 million baht, i.e. residential condominiums and foreign office buildings
– Gain from foreign currency exchange amounting to 115 million baht.
4. Thai Airways only financial statements
– Total revenue (excluding one-time items) 38,951 million baht, 281% higher than last year
– Net profit of 11,879 million baht, an increase of 831% (the same period last year, a loss of 1,624 million baht)
– In the first quarter, Thai Airways passengers were 2.19 million passengers, an increase of 852% from the same period last year.
5. Thai Smile Airways only financial statements
– The first quarter of 2023, revenue of 3,071 million baht, an increase of 152%
– Net profit of 82 million baht, an increase of 106% (compared to a loss of 1,402 million baht in the previous year)
6. In the first quarter of 2023, Thai Airways has net cash from operations. 13,031 million baht because there is a profit While the same period last year was a loss.
7. As of March 31, 2023, the number of aircraft used for flying 65 ships Includes 20 A320-200 aircraft flown by Thai Smile Airways There are 21 long-term aircraft and 16 retired and for sale.
8. This year, rented 4 additional Airbus 350 aircraft, 1 aircraft arrived in May, another 1 aircraft in June and 2 aircraft in August, with a plan to rent 11 Airbus 350 aircraft, the rest will gradually come in. For the new aircraft coming in, there will be more flights on routes China (Guangzhou, Shanghai, Beijing), Japan, South Korea and European routes. Normally during the high season for the aviation business, which is the 1st quarter and the 4th quarter, it is expected that the passenger load rate for the whole year is 77-80%
9. Thai Airways also has real estate properties pending sale, namely domestic offices in Chiang Mai, Phitsanulok, foreign offices in the UK (office and villa), Penang, Hong Kong, with expected total income of 100 million baht because of the transformation model. In the management of Thai Airways business will use an online system. thus reducing the holding of assets that are offices due to the cost of care
10. From the results of the first quarter of 2023, doing better than the recovery plan. Overall, the 2023 operating results were better than the turnaround plan as well. And it is expected that Thai Airways will leave the business rehabilitation plan.no later than 2024
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