Thai Airways blames heavy loss on protests

Airline posts full-year loss equivalent to €268 million

Thai Airways has posted its third quarterly net loss and a full-year loss for 2013. The airline’s full-year net loss was THB 12 billion (€268 million), a heavy drop from its profit of THB 6.2 billion in 2012.

The airline blamed its third consecutive quarterly loss of THB 5.65 billion for October-December on a low number of passengers relative to seats, partly as a result of the political demonstrations in the country, as well as on foreign exchange losses and rising costs.

Thai Airways told Reuters news agency that it expects to stay in the red in 2014 due to the prolonged unrest.

The carrier briefly saw its shares suspended on the Bangkok Stock Exchange on Monday and will see the resignation of its chairman next month, the Bangkok Post reports.

Reuters / Bangkok Post

[photo courtesy Thai Airways]

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