BANGKOK, 15 May 2024: Thai AirAsia’s results for the first quarter of 2024 recorded a 52% increase in revenue, while positive gross earnings before taxes increased 78%. However, the company booked a net loss of THB409.1 million during 1Q2024 due to the Thai baht weakening.
Asia Aviation PLC (AAV), the sole shareholder of Thai Airasia Co. Ltd (TAA), has announced its operational results for the first quarter of 2024, reporting revenues from sales and services reached THB13,793.7 million, an increase of 52% year-on-year, and continued positive earnings before interest, taxes, depreciation and amortisation (EBITDA) of THB3,094.2 million, up 78% from the same period last year.
However, the company booked a net loss of THB409.1 million due to the depreciation of the Thai Baht, which led to a foreign exchange loss of THB2,049.4 million. Cashflow was not impacted and remained positive.
Excluding…
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