Asia Aviation Public Company Limited (SET: AAV) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss) Million Baht |
84.07 | -1,012.53 |
| Earning Per Share (Baht) |
0.0065 | -0.0832 |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
-325.02 | -653.12 |
| Earning Per Share (Baht) | -0.0253 | -0.0537 |
| % Change | -50.24 | |
AAV reported a net profit of 84 million in 2Q2024, or a core profit of Baht 309.7 million, compared to the core profit of Baht 378.1 million in 2Q2023.
AAV achieved core profit of Baht 309.7 million in 2Q2024, driven by 14 percent revenue growth Asia Aviation Plc. (“AAV”) reported a 14 percent YoY increase in revenue from sales and services, totalling Baht 11,485.1 million, driven by a 9 percent YoY increase in average fare to Baht 1,920, and a 5 percent YoY capacity expansion. Cost of sales and services went up 11 percent YoY, pressured by a domestic fuel excise tax, increased aircraft maintenance expenses, and higher airport/user charges at key destinations. As a result, EBITDA saw a 5 percent YoY increase, amounting to Baht 1,908.7 million.
AAV anticipates a ramp-up in tourism demand towards year-end, with an unchanged full-year revenue growth guidance of 20-23 percent YoY and total passengers transported of 20-21 million. Thai Air Asia (TAA) added two new Airbus A321neo aircraft to its fleet in late June and July, and is set to acquire an additional A321neo and A320ceo each in the last quarter. These additions will expand TAA’s fleet to 60 aircraft by year-end. The new A321neo planes will gradually enable TAA to enhance its regional network with more seats and extended flying range, leading to greater cost efficiency
