AAV Announces Operational Results for Q1/2017 Net Profit of Baht 570 Million

 A320neo of Thai AirAsia

A320neo of Thai AirAsia

Asia Aviation Plc. (AAV), major shareholder of Thai AirAsia (TAA), has announced its operational results for the first quarter of 2017 (Q1/2017). AAV had total revenues of Baht 9,150 Million and net profit of Baht 570 Million, achieving a record load factor of 89 percent, up 1 percentage point, with 4.85 million passengers carried, an 11 percent year-on-year increase, yet higher than total seat capacity which grew 9 percent. Two aircraft of Airbus A320 and Airbus A320 neo have been delivered, contributing to a total fleet of 53 aircraft by the end of Q1/2017.

Mr. Tassapon Bijleveld, CEO of AAV and TAA, said that in Q1/2017 TAA continued on with its existing plans with an emphasis on strengthening its “Interregional Connections” within Thailand, which experienced rapid growth.  TAA launched 2 new routes during the quarter including daily flights from its U-Tapao hub to Ubon Ratchathani and Phuket. Both were well received. The airline also increased flight frequencies in the CLMV market by bringing the Don Mueang-Mandalay (Myanmar) route to 2 times daily.

“We believe in our plans and our capital management, which have allowed us to achieve satisfactory growth.  In Q1/2017, TAA had total revenues of Baht 9,150 Million and net profit of Baht 1,036 Million,” Mr. Tassapon said.

Moreover, on April 21, 2017, TAA became the nation’s first low-fares carrier to receive AOC Re-Certification based on ICAO standards following an evaluation by the Thai Civil Aviation Authority, affirming its global standard of services.

For Quarter 2 of 2017, Mr. Tassapon pointed out TAA has prepared to add a new CLMV route and will begin flying Don Mueang-Danang (central Vietnam) daily from June 9, 2017 onward and already increased flight frequency on 2 routes, bringing Don Mueang-Khon Kaen from 4 to 5 flights a day and Don Mueang-Roi Et from 2 to 3 flights a day since April 5, 2017. TAA’s targets for 2017 remain bringing its fleet to 57 aircraft, serving 19.5 million passengers and maintaining an Average Load Factor of 84 percent.