Asia Aviation Plc announces operational results for first half of this year

Thai AirAsia Co Ltd’s sole shareholder Asia Aviation Plc (AAV) announced its operational results for the first six months of 2024.

AAV reported that its revenue from sales and services rose by 32 percent year-on-year, amounting to 25.279 million baht.

Profit from core operations stood at 1.950 million baht, a 1,015 increase from where it was during the same period last year.

The company’s EBITDA saw a 21 percent increase, landing at 5.003 million baht.

Almost back to normal

Throughout the first half of 2024, Thai AirAsia transported 10.4 million guests, a 13 percent year-on-year increase. This resulted in a staggering average load factor of 92 percent. 

During the period, the carrier also expanded its fleet to 57 aircraft, meeting the demands of both domestic and international travellers as the tourism industry continued to recover. 

A satisfying second quarter

The second quarter marked the tail end of Thailand’s tourism season, but AAV was able to maintain a satisfactory performance, achieving a revenue of 11.485 million baht, reflecting a 14 percent increase from last year.

The airline’s Q2-2024 EBITDA stood at 1.909 million baht, up 5 percent from the corresponding period last year. 

Klongchaiya explained: “The average load factor in 2Q2024 was a high 91 percent with 5 million guests flown. [We remain] a leader in domestic aviation with a notable 39 percent market share.”

On the international front, Thai AirAsia launched several new routes, including Don Mueang to Visakhapatnam (India) and Okinawa (Japan.)

Utilising the Fifth Freedom right, the airline also introduced flights from Don Mueang with stopovers in Taipei and Kaohsiung before arriving in Okinawa and Tokyo, Japan.