The return to profitability after seven consecutive quarters in the red is noteworthy and was ahead of most expectations. But it does not mean Thai will be able to book a profit for the full year – even if oil prices remain low – as traditionally the first quarter has been strong for the Thailand airline sector.
While Thai incurred annual losses four out of the eight years only in 2014 was it not able to make money in the first quarter. Thai’s last profitable quarter was 1Q2013, when it generated a profit of THB8.283 billion (279 million), or nearly double the profit of 1Q2015. Thai had an even higher first quarter profit in 2009 and 2010.