Thai Airways Losses In 2011

[trainman34014]

Just read an article on news.airwise.com showing Thai Airways losses for fourth quarter and overall for 2011. 10.2 Billion Baht loss for 2011; 5.3 billion for the last quarter and guess what....they blame the floods. When will these people learn to be competitive on fares out of their own country instead of filling up ageing Jumbo's with cheap flights from Europe filled with sex tourists? With the likes of Singapore Airlines starting a budget arm from SNG this summer to Australia, China and so on, how long will it be before Thai do something similar from BKK? Just dreaming I guess.

[dundee48]

While the floods probably did have a slight effect on passenger numbers the biggest contributer to their losses (IMHO)is undoubtedly their sky high pricing for ageing aircraft with little or no entertainment systems,couldn`t care less attitude of staff and the plethora of free flights on offer to staff,families of staff and shareholders,families of shareholders et al.

[Pseudolus]

Almost the same amount that the directors spent giving freebie tickets to their friends and family according to the report

[lomatopo]

Some detail here if the armchair airline executives care to get up to speed. http://thai.listedco...4_THAI04_EN.pdf

snip:

THAI’s total revenues amounted to THB 194,342 million, which was an increase of THB 10,072 million or 5.5% from last year. Total operating revenue increased in the amount of THB 10,409 million or 5.8% from last year mainly due to the increase in number of passengers and the average passenger yield which reflected a higher fuel surcharge rate.

While SIA (SQ) didn't lose money, Singapore Airlines Q4 profit plunges 53%.

[dundee48]

Some detail here if the armchair airline executives care to get up to speed. http://thai.listedco...4_THAI04_EN.pdf

snip:

THAI’s total revenues amounted to THB 194,342 million, which was an increase of THB 10,072 million or 5.5% from last year. Total operating revenue increased in the amount of THB 10,409 million or 5.8% from last year mainly due to the increase in number of passengers and the average passenger yield which reflected a higher fuel surcharge rate.

While SIA (SQ) didn't lose money, Singapore Airlines Q4 profit plunges 53%.

Yes that was a very selective little `snip` you gave.What good is an increase of 5.5% in revenue if you have a 13.1% increase in expensesThe loss year on year was (minus)-147.5%.

I hope you don`t teach economics..

[lomatopo]

Some detail here if the armchair airline executives care to get up to speed. http://thai.listedco...4_THAI04_EN.pdf

snip:

THAI’s total revenues amounted to THB 194,342 million, which was an increase of THB 10,072 million or 5.5% from last year. Total operating revenue increased in the amount of THB 10,409 million or 5.8% from last year mainly due to the increase in number of passengers and the average passenger yield which reflected a higher fuel surcharge rate.

While SIA (SQ) didn't lose money, Singapore Airlines Q4 profit plunges 53%.

Yes that was a very selective little `snip` you gave.What good is an increase of 5.5% in revenue if you have a 13.1% increase in expensesThe loss year on year was (minus)-147.5%.

I hope you don`t teach economics..

Points perhaps lost on you:

1.) passenger numbers increased, contrary to yours and others comments

2.) everyone is free to read the article to get a feel for the factors negatively impacting financial performance (Hint: CASM > RASM), including increased expenses, foreign currency losses, and even tax-related issues.

3.) Even vaunted carriers like SQ had a tough Q4.

The loss was about 2X what analysts expected so TG should have probably provided some guidance last month rather than dropping this bombshell late Friday.

I kind of assume cargo took a pretty big hit but cannot find specific details.

They do acknowledge that they may have been late to curtail low-load flights due to the impacts of the flood.

[dundee48]

Some detail here if the armchair airline executives care to get up to speed. http://thai.listedco...4_THAI04_EN.pdf

snip:

THAI’s total revenues amounted to THB 194,342 million, which was an increase of THB 10,072 million or 5.5% from last year. Total operating revenue increased in the amount of THB 10,409 million or 5.8% from last year mainly due to the increase in number of passengers and the average passenger yield which reflected a higher fuel surcharge rate.

While SIA (SQ) didn't lose money, Singapore Airlines Q4 profit plunges 53%.

Yes that was a very selective little `snip` you gave.What good is an increase of 5.5% in revenue if you have a 13.1% increase in expensesThe loss year on year was (minus)-147.5%.

I hope you don`t teach economics..

Points perhaps lost on you:

1.) passenger numbers increased, contrary to yours and others comments

2.) everyone is free to read the article to get a feel for the factors negatively impacting financial performance (Hint: CASM > RASM), including increased expenses, foreign currency losses, and even tax-related issues.

3.) Even vaunted carriers like SQ had a tough Q4.

The loss was about 2X what analysts expected so TG should have probably provided some guidance last month rather than dropping this bombshell late Friday.

I kind of assume cargo took a pretty big hit but cannot find specific details.

They do acknowledge that they may have been late to curtail low-load flights due to the impacts of the flood.

Maybe you should read my posts properly before jumping to conclusions,to answer your points,

1:I didn`t say passenger numbers has decreased.

2:You can spout as much mumbo jumbo as you like but bottom line is a loss of minus 147.5% from previous year was reported.

3:Completely irrelevant to the OP.

[JeffreyMcCollum]

Again planes, high fares, and flying huge planes half empty to places like CNX - BKK

They are never my first, second, or even third choice of airline

[lomatopo]

While the floods probably did have a slight effect on passenger numbers the biggest contributer to their losses (IMHO)is undoubtedly their sky high pricing for ageing aircraft with little or no entertainment systems,couldn`t care less attitude of staff and the plethora of free flights on offer to staff,families of staff and shareholders,families of shareholders et al.

Yes, who needs "mumbo jumbo" (aka industry accepted performance factors) when you can make sharp observations like this. 'Nuff said.

[Ricardo]

Again planes, high fares, and flying huge planes half empty to places like CNX - BKK

They are never my first, second, or even third choice of airline

I've yet to fly on a TG-plane up/down to CNX which had any empty seats, in Economy, at least. They're full, and they're expensive !

And the OP should look for the various threads on 'Thai Smile', starting flying this summer, for reassurance that TG are going to start-up another low-cost subsidiary shortly.

Edited February 26, 2012 by Ricardo

[dundee48]

While the floods probably did have a slight effect on passenger numbers the biggest contributer to their losses (IMHO)is undoubtedly their sky high pricing for ageing aircraft with little or no entertainment systems,couldn`t care less attitude of staff and the plethora of free flights on offer to staff,families of staff and shareholders,families of shareholders et al.

Yes, who needs "mumbo jumbo" (aka industry accepted performance factors) when you can make sharp observations like this. 'Nuff said.

You really are finding this difficult aren`t you.Where did i say passenger numbers were down?

[trainman34014]

Again planes, high fares, and flying huge planes half empty to places like CNX - BKK

They are never my first, second, or even third choice of airline

I've yet to fly on a TG-plane up/down to CNX which had any empty seats, in Economy, at least. They're full, and they're expensive !

And the OP should look for the various threads on 'Thai Smile', starting flying this summer, for reassurance that TG are going to start-up another low-cost subsidiary shortly.

I wonder what 'shortly' means in Thai Airways speak?

[BookMan]

The last few times between Sydney and bkk the Thai Air flight shave been full. They have also been refurbished larger planes, with 3 -4-3 seats rather than 2-4-2 (2-5-2?..i dont pay much attention to that) like they used to have.

Their fares have also been coming down. They are often the cheapest option for direct now (through travel agent) cheaper than Qantas and Emirates. Emirates has far better service, while i much prefer Thai over Qantas/BA.

[robbo1]

The last few times between Sydney and bkk the Thai Air flight shave been full. They have also been refurbished larger planes, with 3 -4-3 seats rather than 2-4-2 (2-5-2?..i dont pay much attention to that) like they used to have.

Their fares have also been coming down. They are often the cheapest option for direct now (through travel agent) cheaper than Qantas and Emirates. Emirates has far better service, while i much prefer Thai over Qantas/BA.

I have flown Perth Bangkok a few times with Thai and the service has been great, no complaints at all and it is direct.

[steveweaver99]

Bottom line is Thai Airways sucks and they dont know a thing about being competitive in the marketplace. Quite typical in Thailand...

[steveweaver99]

I remember not so long ago looking at flights from BKK - LHR and some quotes were in the region of 70K baht for an economy seat, ridiculous pricing.

[space9000]

Eva air for me lhr-bkk all the way great service no probs.thai airways due a380 bkk-Munich this year.evaair for me

[Ricardo]

Again planes, high fares, and flying huge planes half empty to places like CNX - BKK

They are never my first, second, or even third choice of airline

I've yet to fly on a TG-plane up/down to CNX which had any empty seats, in Economy, at least. They're full, and they're expensive !

And the OP should look for the various threads on 'Thai Smile', starting flying this summer, for reassurance that TG are going to start-up another low-cost subsidiary shortly.

I wonder what 'shortly' means in Thai Airways speak?

Latest press-releases say July 2012, so only a few months to wait, for 'Nok Air II' to arrive !