THAI and its subsidiaries announced its second quarter results 2016, posting an operating loss of THB 1,782 million (US$51.4 million) – an improvement from the same period last year by 62.2 per cent. During this quarter, special items were the ongoing Transformation Plan and impairment loss of assets and aircraft that totalling THB 2,300 million with a gain on foreign currency exchange that totaled THB 595 million resulting in the net loss of THB 2,915 million.

The continual Transformation Plan generated a positive operating profit for the Group during the first half of 2016 at THB 5,397 million, which indicated an outstanding enhancement compared to last year’s loss of THB 297 million.

Charamporn Jotikasthira, president of Thai Airways International Public Company Limited (THAI), stated that during the second quarter of 2016, THAI continued the second phase of transformation plan “Strength Building” and established its 10 year plan.

Normally, the second quarter is the low season combined with fierce competition, especially in the Asia-Pacific region due to increased competition with low cost airlines, Middle East carriers, and terrorism in Europe which is an important market for THAI.

In June 2016, THAI decommissioned one aircraft under operating lease which was a B777-200, bringing the total number of aircraft in the fleet to 94 as of 30 June 2016, which was one aircraft less than the same quarter last year. Aircraft utilisation increased from 10.9 hours last year to 11.0 hours this year with 5.11 million passengers carried, representing a 0.8 per cent increase from last year.