Asia Aviation Public Company Limited (SET: AAV) has announced its 3Q24 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 3Q24 | 3Q23 |
| Net Profit (Loss) Million Baht |
3,446.38 | -1,694.69 |
| Earning Per Share (Baht) |
0.2682 | -0.1393 |
| 9 Months | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
3,121.36 | -2,347.81 |
| Earning Per Share (Baht) | 0.2429 | -0.1930 |
In 3Q2024, AAV reported a net profit of THB 3,446.4 million, compared to a net loss of THB 1,694.7 million in 3Q2023, primarily driven by a foreign exchange (FX) gain of THB 4,236.2 million due to the Thai Baht’s appreciation against the U.S. Dollar, which was mostly unrealized.
Regarding revenue, the company reported total revenue of THB 15,322.2 million, a 55% YoY increase, primarily due to strong travel demand across domestic, ASEAN, Indian, and Chinese markets. ASEAN markets, where Thai AirAsia (TAA) has a strong presence, performed well, while new routes to India and China from Don Mueang also contributed to growth. Additionally, higher ticket fares and an FX gain from the Thai Baht’s appreciation against the U.S. Dollar further boosted revenue.
During the quarter, the Thai Baht appreciated from 37.0 Baht/USD to 32.5 Baht/USD.
