(25 Feb 2021)
Asia Aviation (AAV), the major shareholder of Thai
AirAsia, has reported a Q4 2020 revenue of Baht 4,158.6 million
and a net loss of Baht 1,114.4 million (1.1 billion Thai Baht
equals approximately US$36.5 million).
The loss was partially caused by the impairment on
right-of-use assets equating to Baht 1,416 million. Thai AirAsia
was EBITDA positive in the quarter, excluding the fuel hedging
loss of Baht 799 million.
Domestic flight services performed exceptionally
well in Q4 2020 with Thai AirAsia operating 107 percent of the
number of seats it did in the corresponding period in 2019, prior
to the global COVID19 outbreak.
During the quarter, Thai AirAsia
achieved a load factor of 74 percent, carrying 2.81 million guests
which was 51 percent higher than in the preceding quarter.
Santisuk Klongchaiya, Chief Executive Officer of
Asia Aviation and Thai AirAsia, said, “The 4th Quarter of 2020
revealed strong signs of recovery for the tourism and travel
industries, in particular as Thai AirAsia was able to return 70
percent of its fleet to service and saw an uptrend in its load
factor with almost 80 percent in November.
“The achievements in Q4 2020 affirm that once the
situation improves, Thai AirAsia will be ready to seize the huge
opportunity with the public eager to travel again as soon as the
situation improves especially with the rollout of vaccination programmes in Thailand and the region.
“Thai AirAsia has also been aligning with the
group to develop new business avenues such as food and beverage
delivery, cargo business and enhancing the airasia super app into
more than just an airline, transforming it into a one stop digital
travel and lifestyle super app, with numerous new products and
Overall in 2020, Thai AirAsia served 9.49 million
passengers with a full year load factor of 75 percent as targeted.
AAV posted a total revenue of Baht 16,237.3 million, with a net
loss of Baht 4,764.1 million.
AirAsia has continued to develop and expand its customer base. In
addition to operations at Don Mueang (DMK), the airline has added
a flight base at Suvarnabhumi Airport (BKK) to become the
only carrier to operate flights out of both Bangkok airports.
The company has
also undertaken a staff reduction exercise by allowing staff to go on unpaid leave or furlough
schemes. It has also reviewed its airport operational costs
including discounts on landing and parking charges as well as air
“We are confident that in 2021, once the COVID19
situation alleviates and vaccination programmes are widespread,
the tourism and aviation industries will bounce back and that
international flights will gradually resume by the year-end,” said
Mr. Santisuk. “Thai AirAsia is ready to boost travel and tourism,
and stimulate the economy while maintaining its stringent health
and hygiene measures. We are confident of maintaining our market
share while expanding in the logistics sector, in particular, our
cargo services, in support of the transport of vaccines
domestically and regionally. We are in the midst of fundraising to
improve the company’s liquidity position including exploring a
soft loan, debt, or issuing new shares.”
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