SET Posts SP-NP Signs on THAI as Auditor Expresses No Conclusion on 3Q20 FS

The Thai Stock Exchange of Thailand (SET) posted Suspend and Notice Pending (SP and NP) signs on Thai Airways International Public Company Limited (THAI) as the company’s auditor does not express a conclusion on the financial statements ending September 30, 2020, the SEC may require the company to amend its financial statements.

 

THAI reported a net loss of 21.5 billion baht in 3Q20.

In the third quarter of 2020, THAI’s passenger production (ASK) decreased by 95.0% while passenger traffic (RPK) decreased by 97.8%. Average cabin factor was 34.9% lower than last year which averaged 80.0%.

Total revenues of THAI and its subsidiaries were THB 3,727 million, lower than the same quarter of last year by THB 41,289 million or 91.7%. The main reason was because both revenue from passenger and cargo transportation decreased by THB 37,654 million (95.1%).

Total expenses were of THB 19,375 million, THB 28,483 million or 59.5% lower than last year, mainly due to operating expenses that varied with traffic production, traffic demand and number of passengers decreased in line with production and traffic demand.