Asia Aviation PCL reported its Q3 financial result on 13 November with the details as follows.
| Quarter | 3Q23 | 3Q22 |
| Net Profit (Loss) Million Baht |
-1.70 | -4.05 |
| Earning Per Share (Baht) |
-0.140 | -0.350 |
| % Change | 58.15 | |
| 9 Months | 2023 | 2022 |
| Net Profit (Loss) Million Baht |
-2.35 | -11.14 |
| Earning Per Share (Baht) |
-0.19 | -0.97 |
| % Change | 78.93 | |
In 3Q2023, AAV reported a net loss of THB (1,694.7) million for this quarter, a 58.15% improved from a loss of THB (4,050.2) million in 3Q2022. The bottom line of the Company was impacted by surging fuel costs and a weakened THB.
The Company achieved total revenues of THB 9,898.7 million, representing a remarkable 102% increase when compared to the corresponding quarter of the previous year, attributable to a substantial increase both in the number of passengers and fares. The total capacity rose to 5.08 million, while the overall load factor remained consistently high at 90%.
Total expenses in 3Q2023 totalled THB 11,433.3 million, up 15% from the same period last year, mostly due to an increase in cost of sales and services, somewhat offset by lower FX losses.
The total fuel costs experienced a significant increase of 61 % YoY and 19 % QoQ, primarily due to the rising jet fuel prices throughout the quarter and the reintroduction of domestic excise fuel tax since July, from THB 0.2 per liter to THB 5.2 per liter.
With other costs well controlled, AAV reported an EBITDA of THB 389.1 million, compared to a loss of THB (601.3) million in 3Q2022. AAV recorded an FX loss, mostly unrealised, of THB (813.5) million.
