AAV’s 2Q19 Loss Rises 58% from a Decrease in INT’L Tourists and Thai Baht Appreciation

Asia Aviation Public Company Limited (AAV) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

AAV had total revenues of THB 10,015.3 million and a net loss of THB 482.5 million, increasing 58% YoY, mainly resulting from lower-than-forecast foreign visitation to Thailand. Besides, Thai baht has soared against the U.S. dollar this year, making it leaps ahead of other regional currencies. In Q2/2019, AAV had total revenues of THB 10,015.3 million, increased by 8% YoY at THB 9,302.6 million. Whereas, total expenses were at THB 10,804.3 million, rose by 10% YoY.

Therefore, net loss/ loss from total comprehensive income for the period attributable to equity holders of AAV amounted to THB 482.5 million, increased by 58% YoY, and basic loss per share was at Baht 0.0995.