Thai AirAsia (TAA) parent Asia Aviation Plc (AAV) became the sole airline listed on the Stock Exhange of Thailand (SET) to declare a profit in the second quarter.
AAV, which owns 55% of TAA, Thailand's biggest low-cost carrier, posted a 106% year-on-year jump in net profit to 766 million baht for the April-June period.
Reflecting its parent's performance, TAA made 768 million baht in net profit, up 105% year-on-year, according to an AAV filing with the SET.
TAA outshone three other SET-listed airlines, which reported negative results in the quarter.
Net losses were posted by flag carrier Thai Airways International (2.91 billion baht), budget airline Nok Air (864 million baht) and regional airline Bangkok Airways (111.9 million baht).
The quarter saw improvement for TAA in key performance yardsticks. Its total revenue was up 13% at 7.75 billion baht, load factor rose by three percentage points to 83%, and passengers served rose 18% to 4.17 million.
AAV shares closed yesterday on the SET at 7.50 baht, down 15 satang, in heavy trade worth 1.35 billion baht.