Thai Airways International Public Company Limited (SET: THAI) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
12,479.52 | 1,537.69 |
| Earning Per Share (Baht) |
5.7200 | 0.7000 |
| % Change | 711.58 | |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
15,195.21 | 16,313.54 |
| Earning Per Share (Baht) | 6.9600 | 7.4700 |
| % Change | -6.86 | |
THAI reported a net profit of THB 12,480 million in 3Q24, an increase of 711% from THB 1,537 million in the same period of last year.
EBITDA after deducting cash for debts payment according to the terms of the aircraft lease agreement including aircraft lease fees calculated from actual aircraft use (Power by the Hour) was THB 6,655 million, THB 1,705 million (20.4%) lower than last year.
The total revenue (excluding one-time items) of the third quarter of 2024 was THB 45,828 million, an increase of THB 8,820 million (23.8%).
Passenger and excess baggage revenue, the majority income of THAI, accounting for approximately 81% of total income (excluding one-time items), amounting to THB 37,103 million, an increase of THB 6,182 million (20.0%) from the previous year.
Meanwhile, passenger traffic (RPK) increased by 24.2% or approximately THB 7,400 million while Production traffic (ASK) increased by 26.2% as this year THAI increased the number of flights and destinations to accommodate the increasing demand for passenger travel, by resuming services to Milan, Republic of Italy and Oslo, Kingdom of Norway routes, and increasing the flight frequency to Beijing and Shanghai, People’s Republic of China to stimulate tourism between Thailand and the People’s Republic of China.
Cabin factor decreased by 1.2%, down to 76.1% from 77.3% in the previous year. This decline was primarily due to increased competition from the resumption of services by other airlines, as well as the fact that quarter 2 and 3 are typically the lowest periods for passenger travel demand of the year.
In the third quarter of 2024, THAI and its subsidiaries had total expenses (excluding one-time items) of THB 38,636 million, an increase of THB 9,347 million (31.9%).
Additionally, as of September 30, 2024, shareholders’ equity of THAI and its subsidiaries was THB -27,941 million, an improvement by THB 15,201 million compared to December 31, 2023, from net profit of the company and its subsidiaries.
