Thai Airways International swings to Bt6.51bn net profit in 2012

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Thai Airways International has posted a net profit of baht (Bt) 6.51 billion ($219 million) in 2012, compared with a net loss of Bt10.2 billion in 2011.

For the fiscal year, the company's total revenue increased by 9.9% year on year to Bt214 billion. Passenger and excess baggage revenue increased by 12% to Bt174 billion, while freight and mail revenue decreased by 4.7% to Bt26.8 billion.

Total operating expenses increased by 4.7% to Bt203 billion, as the cost of fuel and oil grew by 5% to Bt80.2 billion and aircraft maintenance and overhaul costs rose by 7.7% to Bt12.6 billion.

Its earnings before interest, tax, depreciation, amortisation and lease of aircraft and spare parts rose by 38% to Bt31.2 billion.

Cash and cash equivalents totalled Bt20.1 billion as of 31 December 2012, an increase of Bt3.38 billion year on year.