AVIATION
AAV books one-time gain in Q2
- Published: 10 Aug 2012 at 00.00
- Newspaper section: Business
SET-listed Asia Aviation Ltd (AAV), the major shareholder of discount carrier Thai AirAsia (TAA), yesterday took the market by surprise with a substantial increase in earnings in the second quarter of this year.
AAV, which was listed on May 30, reported a net profit of 14.79 billion baht in April-June, buoyed by a one-off 14.69-billion-baht gain on fair value of equity interests as a result of change in the accounting treatment.
Chief executive Tassapon Bijleved said the increase came from the change of consolidation method from proportionate consolidation to full consolidation after AAV increased its stake in Thai AirAsia to 55% from 51%.
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