February 25, 2014 / 12:10 PM / 3 years ago

Thai Airways reports third straight net loss in Q4

2 Min Read

BANGKOK, Feb 25 (Reuters) - Thai Airways International PCL reported a third consecutive quarter of red ink on Tuesday because of foreign exchange losses, increased costs and a low number of passengers relative to seats.

The airline posted a net loss of 5.65 billion baht ($174 million) for October-December against a profit of 792 million a year earlier and a loss of 6.2 billion in the previous quarter.

The result compared with a mean forecast of a 7 billion baht loss from five analysts surveyed by Reuters.

The fourth-quarter figure brought the airline's full-year net loss to 12 billion baht versus a profit of 6.2 billion in 2012.

Shares in Thai Airways closed down 1.5 percent ahead of the earnings release, compared with a 0.2 percent rise in the benchmark index.

Thai Airways expects to remain in the red in 2014 due to a drop in passenger numbers as a result of prolonged political unrest, a board member has told Reuters. ($1 = 32.5550 Thai baht) (Reporting by Khettiya Jittapong; Editing by Christopher Cushing and Alan Raybould)

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