Thai Airways International (THAI) posted a net loss of 15.57 billion baht in 2014, up by 29.8%, or 3.57 billion baht, from the 2013 loss, due mainly to the local political situation and fierce competition, airline president Charamporn Jotikasthira said on Thursday.

He said the loss per share was at 7.15 baht, up from 5.52 baht in the previous year. THAI’s share price closed on Thursday at 13.60 baht, falling by 2.16%.

Read more: Bangkok Post