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THAI Suffers Loss About 11.6 Billion Baht in 2018

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Thai-Airways Boeing 747-4D7 taking off at Munich Airport

Thai-Airways Boeing 747-4D7 taking off at Munich Airport. Photo: Julian Herzog.

BANGKOK, March 2 (TNA) — Thai Airways International (THAI), the national flag carrier, consolidated net loss plunged to about 11.6 billion baht in 2018 compared to loss of only 2.1 billion baht in the previous year, mainly because of several negative factors ranging from high competition in the market to rising fuel prices.

In its announcement announced Friday, THAI said last year’s soaring consolidated net loss was attributed to higher fuel costs, up 19.7 per cent compared with a 30 per cent average increase in fuel prices, while operating expenses, excluding fuel prices, jumped 7.3 per cent, or 9.8 billion baht, due to higher repair and maintenance costs, plane rentals and depreciation costs.

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