Thai Airways International posted a 4.03 billion Thai baht ($121 million) net loss in the third quarter due to foreign currency losses and interest expenses.
The net loss of 4.03 billion baht for the three months ending 30 September compares to a net profit of 426 million baht for the corresponding period last year, says the Star Alliance carrier.
It had an operating profit of 202 million baht for the period compared to an operating loss of 3.2 billion baht for the corresponding period, adds Thai.
But net interest expenses of 1.39 billion baht and foreign currency losses of 2.74 billion baht dragged down its results, it says.
Thai has posted several quarterly losses which has led to a management change. Now the carrier is working to implement a company turnaround plan.
Source: Air Transport Intelligence news