Thai AirAsia Sees Third Quarter Profit Lift

Thai AirAsia reported a profit increase in its third quarter to THB729.2 million (USD$20.65 million).

The four-fold net profit lift was attributed to an increase in foreign visitors to Thailand and lower fuel costs.

Revenue rose to THB8.145 billion from last year’s THB7.254 billion.

Thai AirAsia carried 4.33 million passengers in the quarter to end September, a 21 percent increase on 2015.

Capacity in available seat km rose 20 percent and revenue (in revenue passenger km RPK) was up 23 percent. Load factor increased 3 percentage points to 84 percent.

Thai AirAsia is 55 percent owned by local company Asia Aviation and 45 percent by Malaysia’s AirAsia.