Thai AirAsia Reports Q3 2021 Results

(15 Nov 2021)  Asia Aviation (AAV), the major shareholder in Thai AirAsia (TAA), has reported its third quarter financial results, with total revenue of Baht 457 million, a net loss of Baht 2,098 million, and a 23 percent improvement in EBITDA, compared to the same period last year.

All domestic routes in Thailand were suspended between 12 July and 2 September 2021 as part of the government’s COVID19 containment measures. The return to service starting 3 September 2021, has allowed TAA to gradually resume its route network and increase flight frequencies accordingly.

In 3Q2021, TAA transported 79,767 passengers, down by 96 percent compared to the corresponding period last year. This was in accordance with a decrease of 95 percent of its Available Seat Kilometres (ASK) compared to the same period last year. The load factor during the quarter was 60 percent and the airline ended the quarter with 60 aircraft.

Thai AirAsia A321neo reg: HS-EAA on its way from DMK to Khon Kaen (KKC) on 11 November 2021. Picture by Steven Howard of TravelNewsAsia.com

“We are very confident that the aviation and tourism businesses are way past the turbulent times. With the improving situation in Thailand and our neighbouring countries in the ASEAN region, we are looking at very encouraging signs of recovery from the fourth quarter of 2021 onwards after tracking a strongly positive response in the domestic travel segment,” said Santisuk Klongchaiya, Chief Executive Officer of Asia Aviation Plc. and Thai AirAsia Co. Ltd. “Continuing state tourism promotion campaigns, the widening of the vaccination effort and the country’s reopening on 1 November 2021 have further increased positive sentiment among Thai AirAsia guests. Our Baht 14 Billion fundraising plan has received approval from the Board and should be ready by 1Q2022, in time to fuel our competitiveness as foreign travelers return.”

The company launched airasia food in Bangkok in August 2021 as part of a new offering within airasia Super App, a lifestyle platform that has elevated the business to more than just an airline operation and given it access to a wider customer base.

Cargo services have also been further developed with the network expansion of Teleport, which recently added a dedicated Boeing 737-800 aircraft to its fleet.

“Thai AirAsia is an operating company built for sustainable long-term growth with an ability to adapt and create new opportunities even amidst crisis. Once the travel market fully returns, we will be back even stronger as a leading industry player,” Mr. Santisuk added.