Bangkok, May 17: Thai Airways International (THAI) has posted an increase in net profits for the first half of this fiscal year despite the impact of SARS, courtesy primarily a boost in revenue from Air Cargo, the airline's account director announced. Thai earned net profits of BT 8.296 billion in the first six months of its 2003 fiscal year, up BT 2.523 billion (one BT approx 43 US dollars), or 43.69 per cent, on the same period in 2002, Ngamnit Sombatphibun announced yesterday.
However, this substantial increase mainly came in the first quarter of the year, with second quarter profits up only 1.34 per cent from the same period in 2002.
Ngamnit said the increase in profits came despite a reduction in passenger numbers in march due to the SARS scare. The airline had recorded a 16.1 per cent increase in revenue for that month, pushing March revenue to BT 73.254 million.
She attributed this rise to an increase in revenue from Air Cargo, which alone earned BT 69.904 million, up 16.5 per cent, thanks to an increased number of routes, more flights, and a boost in carrying capacity. Bureau Report