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Thai Airways reports $280Mln loss in Q2

Thanks to positive performance in the first quarter, the company’s net loss in the first half was only Bt155.98 million against the net profit of Bt3.69 billion in the same period last year.

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Thai Airways routes

Thanks to positive performance in the first quarter, the company’s net loss in the first half was only Bt155.98 million against the net profit of Bt3.69 billion in the same period last year.

In the statement to the Stock Exchange of Thailand, THAI reported that in the first half, it experienced a drop in fuel cost, from Bt40 billion to Bt38.77 billion. It also posted an increase in sale revenue and foreign exchange gain of Bt1.9 billion.

While the first-half revenue rose only slightly from Bt101.9 billion last year to Bt103.1 billion.

Yet, expenses rose sharply from Bt102 billion to Bt108 billion, chiefly due to the new accounting rule on aircraft depreciation cost. Depreciation cost in the first half was Bt3.59 billion, against Bt181 million in the same period last year. Employees’ benefits also rose sharply from Bt14.88 billion to Bt17 billion.

via THAI posts Bt8.42bn loss in Q2 – The Nation.

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The environmental case for remote working

Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19.

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Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

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