A remarkable fourth-quarter gain enabled SET-listed Asia Aviation Plc (AAV), the major stakeholder in low-cost carrier Thai AirAsia (TAA), to recoup losses incurred in the first nine months of last year.
The rebound let AAV close 2014 with a full-year net profit of 183 million baht, but that was down 82% from the previous year's record high of 1.04 billion.
Buffeted by the country's political unrest and subsequent tourism decline, AAV suffered losses amounting to 246 million baht in the first three quarters of 2014 compared with an 820-million-baht net profit during the prior-year period.
For the fourth quarter of 2014, AAV posted a net profit of 430 million baht on revenue of 7.87 billion, AAV chief executive Tassapon Bijleveld said yesterday.
TAA carried 12.2 million passengers last year, up by 16% from 2013's record high of 10.5 million.
Load factor in 2014 was 80%, down three percentage points from 2013, said Mr Tassapon, who is also TAA's chief executive.
The carrier finished 2014 with a fleet of 40 Airbus 320s, adding three new routes — Bangkok-Sakon Nakhon, Chiang Mai-Surat Thani and Krabi-Guangzhou — and more flights on two popular routes: Chiang Mai-Krabi (now flying twice daily) and Bangkok-Siem Reap (thrice daily).
TAA is set to deploy five new A320 jets this year and launch four new domestic routes while raising flight frequency on several current routes.
The airline expects to carry 14.5 million passengers and achieve an 83% load factor in 2015.
AAV shares closed yesterday on the SET at 5.15 baht, up 10 satang, in trade worth 176 million baht.