AAV Posts a Further Loss of ฿1.1Bn in 2Q after Suffering from Lockdowns amid Pandemic

Asia Aviation Public Company Limited (AAV) has reported its 2Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

In 2Q20, AAV had a net loss for the period of 1,141.3 million baht, being a further loss of 658.8 million baht or 136.55% compared to the same period last year, mainly due to the coronavirus (COVID-19) pandemic has triggered the global economic recession globally during the second quarter of 2020 (Q2/2020) and lockdown measures were introduced to contain the spreading of pandemic. 

 

As a result, passengers of Thai AirAsia, in which AAV is a major shareholder held 55% of Thai AirAsia Company Limited who is an airline operator of Thai AirAsia, carried in 3Q20 were 283,601, decreased by 95% compared to the same period last year, and its capacity was cut down to 8% of the same in the previous year.

 

In addition, total revenues was 2,221.0 million baht, decreased by 78% YoY. Meanwhile, total expenses were a total of 4,021.4 million baht, declined by 63% YoY.