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Thai Airways Posts Q3 Profit Of US$80 920 000

Thu Aug 15, 2002 4:19 pm

Thai Airways International - A Star Alliance Member - The Airline Network For Earth - has posted a net profit of 3 400 000 000 baht / US$80 920 000.

The profit for Q3 was up from 745 000 000 baht / US$17 635 800.

The profit was due to a foreign exchange gain of 2 130 000 000 baht / US$
50 694 000. The airline is exposed to the highly fluctuating Thai Baht.

For the Financial Year ending 30 September 2002, the airline made a profit of 9 200 000 000 baht / US$218 960 000.

"The results were lower than consensus, but they still rose so I don't think people were too upset. Buying planes boosts sentiment. The kneejerk reaction is more planes, more passengers, more money," said Ben Knowles, head of sales at Adkinson securities.

More information at the Reuters / Yahoo website

Information was gathered from the above hyperlinked webpage. Full information can be viewed by clicking the above hyperlink


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