THAI Announces 1st Quarter Results For Fiscal Year 2001/2002

Thai Airways International Public Company Limited reported its operating results for the first quarter of fiscal year 2001/2002 (October - December 2001).  THAI achieved a net profit from operations of 1,050 million baht.

According to Mr. Kaweepan Ruangpaka, THAI’s Executive Vice President, Finance and Accounting Department, THAI achieved an operating revenue of 30,245 million baht.  The operating profit was reported at 906 million baht, a decrease of 889 million baht or equivalent to 49.52 percent compared to the same period last year.

THAI’s net profit was reported at 1,050 million baht, an increase of 2,775 million baht or 160.85 percent compared to the same period last year.  The earnings per share was 0.75 baht, compared to a net loss per share of 1.23 baht in the same period last year.

During the first quarter, Thai baht currency became stronger coupled with a reduction in the world’s oil price, there was a reduction in the airline’s oil and fuel expenses.

The impact of the 11th September attacks on the USA caused a reduction of 2,084 million baht in operating revenue.