Surging fuel costs dent airlines' performance
Despite growing revenue in the second quarter, surging fuel costs of 43-49% contributed to an operating loss of 2 billion baht for Thai AirAsia and a 39.3% decline in operating profit for Bangkok Airways.
Despite a 43-49% increase in fuel costs, Thai AirAsia reported an operating loss of 2 billion baht in the second quarter, while Bangkok Airways saw a 39.3% drop in operating profit. The airlines faced a 41.5% decline in capacity utilization, with Thai AirAsia reporting 721.2 million baht in losses, down from 75.8 million just months prior.
Bangkok Airways reported a 3.2% drop in operating profit, falling to 90.2 million baht. The airlines collectively incurred a 3.11% decline in revenue, with Thai AirAsia recording 381 million baht in losses and Bangkok Airways at 607 million. Capacity utilization at these airlines fell to 75.8% and 6%, respectively, indicating a significant impact from the surging fuel costs.
Written by urgent.news from Bangkok Post Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
