Asia Aviation Plc (AAV), a major shareholder of Thai AirAsia Co Ltd (TAA), reported total revenue of 2.78 billion baht in the second quarter of 2022 (2Q 2022), up 157% year-on-year (y-o-y).
This follows a strong recovery in the tourism industry, driven by solid domestic growth and reinstatement of key international routes especially to India, Malaysia and Singapore, it said.
The company registered a loss of 4.72 billion baht in 2Q 2022 following the setbacks from the doubling of global fuel prices, due to consumption outpacing supply globally, higher maintenance costs and the depreciation of baht against the US dollar.
In the quarter reviewed, TAA carried 1.68 million passengers, or an increase of 133% y-o-y, with a load factor of 75%, up 14 percentage points compared with the same period last year.
“Seat capacity returned to 33% of what it was in Q2 2019, before the Covid-19 pandemic,” it said in a statement today.
For the first half of 2022 (1H 2022), AAV reported a loss of 7.09 billion baht due to rising fuel costs and aircraft maintenance costs as well as a further baht depreciation during the same period, while total revenue stood at 4.63 billion baht.
During this period, it recorded a total of 3.14 million passengers, an increase 84% y-o-y with a load factor of 74%.
“For 2022, the airline has a target of carrying 10 million passengers, a three-fold increase from last year’s 2.93 million, while affirming its leadership as a low-fare carrier for Thais and international travellers,” it said.
Meanwhile, AAV and TAA chief executive officer Santisuk Klongchaiya said TAA had resumed 19 routes to eight countries, namely India, the Maldives, Cambodia, Vietnam, Lao PDR, Singapore, Malaysia and Indonesia by the end of 2Q 2022.
“For the latter half of the year, TAA aims to introduce a new route to the Japanese city of Fukuoka for the first time ever, along with routes to Nepal and Bangladesh in the interests of providing greater choice and connectivity for consumers and travellers. “We expect to see the positive sentiments to continue for the rest of the year, potentially 2H 2022 being our best half-yearly performance in three years,” Bernama reported him saying.
