News
Thai AirAsia parent reports 39% drop in quarterly net profit
May 19th 2026
Asia Aviation Public Company Limited (AAV), the majority shareholder of Thai AirAsia, reported net profit of 840.6 million baht (US$26 million) for the three months to March 31 2026, down more than 500 million baht from net profit of 1.4 billion baht in the same three months in 2025. Read More » Revenue rose 4% to 14.1 billion baht, while costs were 10% higher at 12.3 billion baht, AAV said in a regulatory filing. The company said the bottom line was impacted by foreign exchange losses totalling 1 billion baht during the quarter. AAV said core operating profit, which excluded one-off items such as the foreign exchange impact, was up 27%, at 1.7 billion baht. AAV and Thai AirAsia CEO, Phairat Pornpathananangoon, said there was minimal impact from the recent surge in oil prices during the three months to March. "The impact of rising fuel costs will become more evident in Q2, presenting greater management challenges," Phairat said. "Consequently, we have adapted our operational model to emphasise rigorous cost management and stringent risk mitigation to ensure readiness for all scenarios, while simultaneously maintaining profit margins and financial resilience." The LCC said it had cut seat capacity through May and June by 20% compared with the same months in 2025.
