Thai Airways turns around second-quarter performance

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Thai Airways International posted a 1.55 billion baht ($47.8 million) net profit in the second quarter of 2010, compared with a net loss of 5.4 billion baht during the same period in the previous year.

The Star Alliance carrier posted a 14.5% increase in total revenue to 39.6 billion baht. EBITDA increased by 221 million baht to 3.19 billion baht.

Average freight load factor grew to 64.8%, compared with 48.5% in the second quarter of 2009.

Total expenses, excluding foreign currency exchange, totalled 41.9 billion baht. This increase of 10% was due to a 46.6% increase in average jet fuel price, says the carrier.

For the first half ending 30 June 2010, net profit amounted to 12.3 billion baht from 2.46 billion baht during the same period last year.