Thai Airways International has reported a consolidated net loss of baht (Bt) 6.19 billion ($196 million) for the third quarter of 2013, a reversal of the Bt1.74 billion net profit seen in the same period a year earlier.
The airline’s total revenue declined 2.1% to Bt51.4 billion, as lower revenue from freight, and passenger and excess baggage contributed to the decline. Total expenses rose by almost 14% to Bt57.5 billion, primarily due to a Bt2.89 billion loss on foreign currency exchange, higher employee benefits and advertising expenses.
Thai also posted a loss before tax of Bt6.13 billion, from a profit of Bt1.9 billion in the previous year.
For the nine months to 30 September, it posted a net loss of Bt6.35 billion from a profit of Bt5.44 billion. Revenues also declined marginally to Bt157 billion.
The carrier’s cash and its equivalents for the period amounted to Bt35.3 billion.
As of 30 September, the carrier has 96 aircraft in service and 16 aircraft listed as being held for sale.