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AAV Reports Synchronized Growth with Travel Industry in Q1/2014 Maintains Strong Load Factor of 80%

May 22, 2014 Financial No Comments Email Email

AAV Reports Synchronized Growth with Travel Industry in Q1/2014 Maintains Strong Load Factor of 80% Revenue 6,460 Million THB, Net Profit (Parent) 139 Million THB.

Thai AirAsia continued its expansion by creating new opportunities for itself in Q1/2014. Thai AirAsia achieved revenue of 6,460 Million THB, net profit of 245 Million THB and saw a 22 percent rise in its carried passenger to 3.1 million people. While its load factor fell year-on-year by 7 percentage points to 80 percent, Thai AirAsia remained synchronous with the nation’s travel atmosphere and utilized a new strategy of adding routes outside Bangkok such as Chiang Mai-Hong Kong, Chiang Mai-Hangzhou and Chiang Mai-Changsha (China) to provide itself new opportunities for growth.

Mr. Tassapon Bijleveld, CEO of Asia Aviation Plc. (AAV); major shareholder of Thai AirAsia, pointed out that Thai AirAsia received two new AirBus A320 airplanes in Q1/2014, bringing its fleet to a total of 37 aircraft and increasing its seating capacity by 31 percent. He remarked that the 22 percent increase of passengers to 3.1 million people was a satisfactory figure considering the present condition of the Kingdom’s travel industry.

Thai AirAsia created its own business opportunities by offering routes beyond Bangkok, bolstering its revenue while also providing more choice for both domestic and international travelers. The new routes are Chiang Mai-Hong Kong, Chiang Mai-Hangzhou and Chiang Mai-Changsha (China). Thai AirAsia also increased flight frequency for its Bangkok-Siem Reap, Bangkok-Yangon and Bangkok-Chiang Rai flights.

“Thai AirAsia is always ready to adapt. We have faced natural disasters, epidemics, fluctuating fuel prices and now we are facing a political and economic situation. Regardless, with our clear vision and efficient capital management as well as our determination to develop our products and services, we are sure we will continue to meet the needs of our customers.”

Mr. Tassapon evaluated that Thai AirAsia will continue to grow and perform well in 2014 as it plans to receive 4 new aircraft in 2H2014, allowing it carry more passengers. Moreover, the airline will continue its strategy of introducing routes beyond Bangkok, capitalizing on a market with low competition. Thai AirAsia aims to serve 12.6 million passengers in 2014, up from 10.5 million passengers in 2013.

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