High Competition in Aviation Business Plunges AAV to Record Further Loss in 3Q by ฿416m

Asia Aviation Public Company Limited (AAV) has reported its 3Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

AAV stated that for 3Q19, the company had total revenues of 9,661.4 million baht and a net loss of 416.6 million baht, decreased from the previous quarter and increased 16.33% from the same period last year. Despite the recovery of tourist arrivals, the business was faced with a price war, especially from the international market. However, the decrease in oil prices and the depreciation of the US Dollar were advantageous for the company’s cost structure.

For the fourth quarter of 2019, Thai AirAsia realigns its routes to enhance efficiency and better match demand. At the same time, Thai AirAsia inaugurates 2 additional routes including, Bangkok (Don Mueang) to Varanasi in India and Chiang Rai to Hangzhou in China. It will also increase flight frequencies on Bangkok to Jaipur in India and growth in the future and maintaining its leading position as a low-fare airline in Thailand.

In 2019, Thai AirAsia revised targets of passengers to 22.5 million from 23.2 million with a load factor at 86 percent, and plans to acquire more capacity and energy-efficient aircraft, A321neo during the year to bring its fleet to 62 aircraft.