Thai Air Expects Fuel Prices to Hit Q1 Profits

March 29, 2011

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Thai Airways said it expects Q1 profits this year to be lower than a year ago due to higher fuel prices, the company said on Monday.

The airline also said it might cut its flights from Bangkok to Tokyo from the current rate of 59 per week due to falling passenger numbers.

Executives added that the airline expected to reduce its hedging against fuel prices to 42 percent from its current 51 percent.

(Reuters)