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Bloomberg
Thai Airways International’s second-quarter loss more than doubled as the global economic slowdown, fierce competition and a strengthened baht took their toll on revenue.
The company reported a $223.7 million loss in the second quarter, compared with a 3.1 billion baht deficit a year earlier, according to a filing to Thai exchange.Revenue fell 10 percent to 42.5 billion baht.
The national carrier has faced mounting pressure on its revenue as it struggles to operate with aging aircraft, declining tourist arrivals and a stronger currency.
The baht’s 8 percent appreciation against the dollar in the
past year is the strongest in a basket of emerging-market currencies zracked by Bloomberg.