National carrier Thai Airways International has reported a quarterly operating profit, but warned competition was likely to intensify after a UN body last month lifted a ban on new international flights by Thai-based carriers. Thai Airways, 51% owned by the government, swung to an operating profit of 739 million baht (US$22.33 million) for the third quarter ended Sept 30, from a 836 million baht loss a year ago. Thai Airways' expenses rose 2.7% in the third quarter as jet fuel prices spiked and the government began taxing jet fuel for domestic routes. Due to impairments on older aircraft and foreign currency exchange losses, Thai Airways reported a net loss of 1.8 billion baht for the quarter, wider than the 1.6 billion baht net loss a year ago. Other Thai airlines have also reported challenging conditions in the quarter ended Sept30 due to higher fuel prices.

Source: Bangkok Post November 13, 2017 06:22 UTC