High fuel bills and Japan disasters result in $262.7 million Q2 net loss
Thai Airways International has posted a $262.7 million Q2 net loss, explaining that the result was due to the impact of the Japan disasters this spring, currency exchange losses and a heavy increase in its fuel bill. The airline’s passenger traffic increased by 13.2%, but this was mainly due to a poor comparison period of the country’s political unrest in 2010. The cabin factor average for the second quarter was 66.4%. Thai Airways’ net loss for H1 2011 stands at $242.7 million.
Simultaneously to the financial news, Thai Airways announced that it had signed a major new aircraft purchase agreement with Airbus, placing a firm order for four A350-900 and five A320 aircraft, becoming a new customer for both aircraft types. In addition, the carrier plans to lease eight more A350-900s and six more A320s from third party companies. The new A350 XWB (extra wide-body) aircraft, which will be able to seat between 270 and 350 passengers depending on cabin layout, will operate on long-haul routes to Europe, while the narrow-body A320s will serve domestic and regional routes.