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Thai Airways Q2 net loss worse than forecast

Thai Airways Q2 net loss worse than forecast
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First Published: Thu, Aug 13 2009. 04 42 PM IST
Updated: Thu, Aug 13 2009. 04 42 PM IST
Bangkok: Thai Airways International reported a bigger-than-expected loss in the second quarter on Thursday, hit by foreign exchange losses and falling passenger numbers due to political unrest and the H1N1 flu outbreak.
The carrier said it made a net loss of bhat 5.40 billion ($158.6 million), or 3.18 baht per share, in the April-June quarter, which was down 42% from bhat 9.25 billion loss a year earlier, when it was badly hurt by surging jet fuel costs and a huge foreign exchange loss.
The loss was higher than the average bhat 4.62 billion forecast by five analysts surveyed by Reuters.
The outlook for the airline in coming quarters remains bleak, analysts said, with a decline in air traffic demand due to the H1N1 flu pandemic and price promotions likely to further erode earnings.
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First Published: Thu, Aug 13 2009. 04 42 PM IST