Thai Airways sinks to bigger loss

Airline suffers from political unrest and low-cost competition
Thai Airways sank to a bigger quarterly loss, hit by a fall in passenger numbers thanks to months of domestic political unrest and competition from low-cost carriers. It posted a net loss of THB 6.4 billion (€176 million) for the October-December period, compared with a THB 5.7 billion net loss for the same period a year earlier.
A foreign exchange gain of THB 3.2 billion in the quarter was wiped out by losses from fuel hedging, news agency Reuters reports.
For the whole of 2014, net loss increased 30% to THB 15.6 billion, including a foreign exchange gain of THB 12.6 billion, the airline said in a statement. Revenues from sales and services dropped 8.7% during the year to THB 188 billion, while passenger numbers declined 11.2%.
[image courtesy Airbus]

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