THAI AIRWAYS INTERNATIONAL PCL Quarter 2/2013 Analyst Briefing 1 http://www.thaiairways.com/about-thai/investor-relations/en/investor.html
DISCLAIMER The information contained herein is intended to represent the Company s operating and financial position at a given point in time and may also contain forward looking information which only reflects expectations based on the prevailing geo-political, economic and non-controllable factors. Such information has been obtained from sources believed to be most reliable and the means in analyzing and preparation of such information for disclosure are based on approved practices and principles in the investment industry. The views are based on assumptions subject to various risks and uncertainties and no assurance is made as to whether such future events will occur, that projections will be achieved, or that the assumptions here-in are correct. Consequently no assurance is made as to the accuracy or completeness of information presented in this document. This document should not be construed as an investment guide or as an offer or solicitation of an offer to buy or sell equity shares or other securities issued by the Company. 2
Snapshot Company Q2 2013 % Change YoY H1 2013 % Change YoY Total Revenue (MTHB) 44,204-11.3% 107,475 +1.0% Net Profit (MTHB) (Included FX) (8,439) -450.9% (156) -104.2% Assets (MTHB) (As at JUN13) 324,103 +16.8% 324,103 +16.8% Route & Fleet Number of Aircraft (As of 31 AUG 13) 97 Frequency Flights per Week (Effective 31 MAR 26 OCT 13) 969 Destinations Served (Effective 31 MAR 26 OCT 13) 75 Countries Served (Effective 31 MAR 26 OCT 13) 37 Note: Including THAI Smile 3
Operations Summary Q2 2013 H1 2013 Unit 2013 2012 % Change YoY 2013 2012 % Change YoY Passenger Production MASK 20,907 18,776 +11.3% Passenger Traffic MRPK 14,733 14,102 +4.5% Cabin Factor % 70.5 75.1-6.2% Passenger carried Million 5.11 4.86 +5.2% Passenger Yield* (Inc. Surcharge) THB/km 2.55 2.64-3.4% 41,957 38,729 +8.3% 31,534 29,707 +6.2% 75.2 76.7-2.0% 10.79 10.02 +7.7% 2.68 2.70-0.7% Freight Production MADTK 1,200 1,163 +3.2% Freight Traffic MRFTK 620 645-3.9% Freight Factor % 51.7 55.5-6.8% Freight carried Tons 159,104 165,147-3.7% 2,458 2,360 +4.1% 1,261 1,297-2.7% 51.3 54.9-6.6% 324,864 335,772-3.2% Note: Passenger sales commission and discount/rpk Base on RCM report 4
Financial Performance 5
Financial Performance Performance Summary (Q2 2012 & Q2 2013) THAI and its subsidiaries (Units : MTHB) Q2'2012 Q2'2013 Total Revenue * 48,506 48,407 Total Expense 51,244 53,087 Foreign currency exchange (Loss) 1,316 (4,202) Loss before income tax expense (1,422) (8,882) Net tax expense (income) 47 (456) Net profits (loss) (1,532) (8,439) * Excludes Foreign currency exchange 6
Financial Performance EBIT, EBITDA and Net Profit (Q2 2012 & Q2 2013) Units : MTHB Factors Impacting Q2 2013 Results Number of passengers 5.2% higher than last year. ASK increased 11.3% while RPK increased 4.5% but Cabin factor decreased 6.2% from the same period last year. Aircraft impairment loss 1,332 MTHB for 3 A300-600 and 4 A340-500 aircraft. FX Loss 4,203 MTHB from weak Baht. EBIT EBITDA NET PROFIT *NET PROFIT (Exclude FX) 7
Financial Performance Operating / Total Revenue (Q2 2012 & Q2 2013) Units : MTHB 60,000 Operating Revenue Total Revenue Revenue % Change % to Tot. Rev. Passenger -0.90 87.76 Freight -12.85 12.77 40,000 2,098 210 6,478 5,646 2,398 258 Mail 22.87 0.58 Other activities 14.29 5.42 Interest income 20.44 0.31 20,000 39,146 38,792 Other income 20.44 1.03 Profitability on FX - 419.40-9.50 0 Q2'2012 Q2'2013 Gain on deemed disposal 0.00 1.63 Passenger Freight Mail Other activities Total Income - 11.28 100.00 * Exclude Interest income, FX, Other income, Gain on deemed disposal - Operating revenue Q1 2012 = 47,932 MTHB - Operating revenue Q1 2013 = 47,093 MTHB 8 Total revenue Q2 2012 = 49,822 MTHB Total revenue Q2 2013 = 44,204 MTHB
Operating / Total Expense (Q2 2012 & Q2 2013) Operating Expense Financial Performance Total Expense Units : MTHB 60,000 % Change % of Expense YoY Tot. Exp. Personnel expense 12.27 16.47 50,000 40,000 30,000 4,407 4,786 920 1,189 5,056 4,987 3,312 3,237 1,312 1,459 2,237 2,245 4,998 5,227 Fuel and oil - 6.23 34.76 Flight service expense 4.59 9.85 Inventories and supplies 0.37 4.23 20,000 19,679 18,452 Crew expense 11.22 2.75 10,000 Maintenance/overhual - 2.27 6.10 0 7,787 Q2'2012 Q2'2013 8,742 Personnel Fuel and Oil Flight Service Expense Inventory&Supply Crew Expense Aircraft Maintenance Depreciation Lease of a/c Other * Excludes Impairment losses, Finance costs and Share of profits of associates - Operating expense Q2 2012 = 49,709 MTHB - Operating expense Q2 2013 = 50,325 MTHB 9 Depreciation/amortisation - 1.37 9.39 Aircraft lease/spare parts 29.20 2.24 Other expense 27.01 14.21 Total Expense 3.60 100.00 Total expense Q2 2012 = 51,244 MTHB Total expense Q2 2013 = 53,087 MTHB
Financial Performance Ratios Q2 2012 & Q2 2013 Ratios units Q2 2012 Q2 2013 Earnings Per Share (THB) -0.70-3.87 Book Value per Share (THB) 30.23 31.00 Price / Book Value (Times) 0.72 0.79 EBIT (MTHB) -1,537-2,899 EBITDA (MTHB) 3,519 2,088 IBD to Equity (Times) 2.1 2.70 Debt Service Coverage* (Times) 0.8 0.40 Interest Coverage (Times) 2.45 1.37 Operating Profit Margin (%) -3.2-6.2 Net Profit Margin (%) -3.1-17.9 *EBITDAR TAX / Interest + Rent + Long Term Debt Repayment - Refinance 10
Financial Performance Performance Summary (1H 2012 & 1H 2013) THAI and its subsidiaries (Units : MTHB) 1H'2012 1H'2013 Total Revenue * 104,595 105,548 Total Expense 102,419 108,325 Foreign currency exchange (Loss) 1,843 1,927 Loss before income tax expense 4,019 (850) Net tax expense (income) 247 (719) Net profits (loss) 3,692 (156) * Excludes Foreign currency exchange 11
Financial Performance EBIT, EBITDA and Net Profit (1H 2012 & 1H 2013) Units : MTHB Factors Impacting 1H 2013 Results Number of passengers higher than last year by 7.8% ASK increased 8.3% while RPK increased 6.2% but Cabin factor decreased 2% from the same period last year. Aircraft Impairment loss 3,592 MTHB for 3 A300-600 and 4 A340-500 aircraft Net FX Gain 1,927 MTHB from Baht strength. EBIT EBITDA NET PROFIT *NET PROFIT Special ticket price campaign to simulate travel demand. (Exclude FX) 12
Financial Performance Operating / Total Revenue (1H 2012 & 1H 2013) Units : MTHB 120,000 100,000 80,000 60,000 40,000 20,000 0 4,417 4,787 432 12,978 11,495 479 84,103 86,344 1H'2012 Operating Revenue 1H'2013 Passenger Freight Mail Other activities * Exclude Interest income, FX, Other income, Profitability on business acquisition, Gain on reclassified investment, Gain on deemed disposal - Operating revenue 1H 2012 = 106,438 MTHB - Operating revenue 1H 2013 = 107,475 MTHB 13 Total Revenue Revenue % Change % to Tot. Rev. Passenger 2.66 80.34 Freight -11.43 10.70 Mail 10.82 0.45 Other activities 8.39 4.45 Interest income 10.16 0.24 Other income 37.62 1.08 Profitability on FX 4.53 1.79 Gain on deemed dispos 0.00 0.67 Profitability on 0.00 0.00 business acquisition Gain on reclassified investment 0.00 0.28 Total Income 11.75 100.00 Total revenue 1H 2012 = 106,438 MTHB Total revenue 1H 2013 = 107,475 MTHB
Operating / Total Expense (1H 2012 & 1H 2013) Operating Expense Financial Performance Total Expense Units : MTHB 120,000 110,000 100,000 90,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10,000 0 40,005 14,881 8,324 9,682 2,105 2,233 10,214 9,766 6,289 6,491 2,778 2,917 4,589 4,667 10,109 10,489 1H'2012 1H'2013 38,766 17,123 Personnel Fuel and Oil Flight Service Expense Inventory&Supply Crew Expense Aircraft Maintenance Depreciation Lease of a/c Other * Excludes Impairment losses, Finance costs and Share of profits of associates - Operating expense 1H 2012 = 99,296 MTHB - Operating expense 1H 2013 = 102,136 MTHB 14 % Change % of Expense YoY Tot. Exp. Personnel expense 15.06 15.81 Fuel and oil - 3.10 35.79 Flight service expense 3.76 9.68 Inventories and supplies 1.70 4.31 Crew expense 5.01 2.69 Maintenance/overhual 3.21 5.99 Depreciation/amortisation - 4.39 9.02 Aircraft lease/spare parts 6.08 2.06 Other expense 38.65 14.65 Total Expense 5.77 100.00 Total expense 1H 2012 = 102,419 MTHB Total expense 1H 2013 = 108,325 MTHB
Financial Performance Ratios 1H 2012 & 1H 2013 Ratios units 1H 2012 1H 2013 Earnings Per Share (THB) 1.69-0.07 Book Value per Share (THB) 30.23 31 Price / Book Value (Times) 0.72 0.79 EBIT (MTHB) 3,085 1,544 EBITDA (MTHB) 13,300 11,310 IBD to Equity (Times) 2.1 2.7 Debt Service Coverage* (Times) 1.3 0.9 Interest Coverage (Times) 4.6 3.9 Operating Profit Margin (%) 3.0 1.5 Net Profit Margin (%) 3.7-0.1 *EBITDAR TAX / Interest + Rent + Long Term Debt Repayment - Refinance 15
Currency Break down Foreign Currency Exposure (As of Year 2012) Revenue Expense Outstanding loan 16
Debt Structure Proportion of Fixed and Float (As of JUN 2013) Before Swap After Swap Percentage of TOTAL (TOTAL = 179,631 MTHB) Percentage of TOTAL (TOTAL = 179,059 MTHB) Cost of funding = 3.05% Cost of funding = 3.20% 17
Looking ahead 18
Cabin Factor (%) Looking Ahead 100.0 Actual Estimated (As of 30.8.13) Booking (As of 2.9.13) 80.0 73.6 70.4 77.3 79.0 78.4 78.3 71.5 75.5 79.7 78.7 71.7 73.5 76.7 78.3 78.8 80.4 80.3 75.8 66.4 69.2 75.3 78.0 67.2 60.0 40.0 Freight Factor (%) 70.0 60.0 50.0 61.5 54.0 49.7 Actual 54.7 54.4 56.4 55.8 54.1 52.2 50.4 55.3 56.7 55.6 51.6 47.2 51.1 54.7 52.8 52.1 50.1 Estimated (As of 30.8.13) 47.5 46.1 40.0 30.0 19
Company Facts 20
Current Fleet: 97 Aircraft* 43% of O 36% of FL 21% of OL O=Owned FL=Financial lease OL=Operating lease (Note: Approximately) Aircraft Type First Business Economy Total A300-600 36R3 5 N.A. 28 232 260 5 O A340-600 3461 6 8 60 199 267 6 FL A330-300 Version # of Aircraft # of Seat 3302 12 N.A. 42 263 305 3303 8 N.A. 36 263 299 3304 7 N.A. 36 263 299 3201 2 N.A. N.A. 174 174 A320-200 6 OL 3202 4 N.A. N.A. 174 174 A380-800 3801 4 12 60 435 507 4 FL B737-400 7341 5 N.A. 12 137 149 2 O, 3 OL 7442 1 14 50 325 389 7443 2 10 40 325 375 B747-400 7444 6 10 40 325 375 12 O, 4 FL 7445 5 9 40 325 374 Freighter 2 N.A. N.A. N.A. N.A. B777-200 7723 8 N.A. 30 279 309 6 O, 2 OL B777-200ER 77E1 6 N.A. 30 262 292 6 FL B777-300 7732 6 N.A. 34 330 364 6 O 7739 1 8 30 274 312 B777-300 ER 77B1 7 N.A. 21 8 OL 42 306 348 Current Fleet As of 31 AUG 13 Financial Method 10 O, 15 FL,2 OL Total 97 71 610 4,891 5,572 41 O, 35 FL, 21 OL
Aircraft Delivery Plan NEW A/C DELIVERY 2012 2013 2014 2015 2016 2017 TOTAL A380-800 3 (FL) (SEP/NOV/DEC) 3 (FL) (MAR/OCT/NOV) - - - - 6 B777-300ER 2 (OL) (AUG/OCT) 6 (OL) (MAR/APR/JUN/ JUL/AUG/OCT) 3 (FL) (FEB/AUG/NOV) 3 (FL) - - 14 A330-300 3 (FL) (FEB/SEP/OCT) 2 (FL) (JAN/MAY) - - - - 5 A350-900 - - - - 2 (OL) R 2 (FL) I 6 (OL) R 10 B787-9 - - - - - 2 (OL) 2 B787-8 - - 4 (OL) (MAY/AUG/ OCT/NOV) 2 (OL) - - 6 A320 (Thai Smile) 4 (OL) (JUN/AUG/AUG/SEP) 2 (OL)4(FL) (JAN/MAR)/(OCT/ OCT/NOV/DEC) 2 (FL) 5(OL) (JAN/FEB/ MAY/JUN// SEP/OCT/NOV) 3 (FL) - - 20 TOTAL 12 17 14 8 2 10 63 Average Fleet Age* 10.3 9.3 8.3 8.0 8.6 7.6 8.7 * Based on Leased A320 As at 30 JUN 2013 22 Note : OL = Operating leas / FL = Financial lease I = Intercontinental / R = Regional
Aircraft Delivered Aircraft Type (No. of Aircraft) Delivered (As of AUG 2013) Currently in Fleet (As of AUG 2013) Airbus 330-300 2 (FL) 27 Airbus 380-800 1 (FL) 4 Boeing 777-300ER 5 (OL) 8 23
Phase Out Plan PHASE-OUT PLAN 2012 2013 2014 2015 2016 2017 TOTAL B747-400 - 4 - - - 2 6 B777-300ER (Jet Airways) - 5 - - - - 5 A340-500 4 (MAY) - - - - - 4 B777-200 - - - - - 4 4 A330-300 - - 2 6 2 2 12 A300-600 2 (MAR) 4 5 - - - 11 B737-400 3* (JUL/JUL/OCT) 1* 2 1-2 9 ATR-72-2* - - - - 2 TOTAL 9 16 9 7 2 10 53 *Return from Nok Air As at 30 JUN 2013 24
Phased Out Aircraft Type (No. of Aircraft) Pending for Sale in Y2013 Return to Lessor in Y2013 Currently in Fleet Airbus 300-600 4-5 Airbus 340-500* 4 - - Boeing 737-400** 4-5 Boeing 747-400 2-16 (Inc. Freighters) Boeing 777-300ER - 4 8 ATR 72** 2 - - * 3 of A340-500 out of service in year 2012 ** Returned from Nok Air (3 of B737-400 returned from year 2012)
World Route Network THAI s Route Network International Route (Based on Traffic Program Information Summer Issue 2) 31 MAR 2013 to 26 OCT 2013 25 MAR 2012 to 27 OCT 2012 Countries 34 34 Cities 62 61 Frequency flight / Week 638 597 Seats/Week 396,068 355,566
Domestic Route Network THAI s Route Network MAE HONG SON CHIANG RAI CHIANG MAI PHITSANULOK KHON KAEN NAKHON PHANOM BURIRAM THAI BANGKOK Nok Air (Code Share) Domestic Route (Based on Traffic Program Information Summer Issue 2) 31 MAR 2013 to 26 OCT 2013 25 MAR 2012 to 27 OCT 2012 PHUKET KRABI SAMUI HAT YAI Cities 7 10 Frequency flight / Week 215 277 Seats / Week 112,371 134,495
THAI Smile Fleet Plan & Route Network THAI Smile based at Suvarnabhumi Airport Operates in domestic and regional secondary routes and synchronize with TG network. FREQUENCY* DESTINATION 14 Flights / week Bangkok - Macau V.V. 5 Flights / week Bangkok - Mandalay V.V. 21 Flights / week Bangkok - Udon Thani V.V. 17 Flights / week Bangkok - Phuket V.V. 14 Flights / week Bangkok - Surat Thani V.V. 14 Flights / week Bangkok - Krabi V.V. 14 Flights / week Bangkok - Ubon Ratchathani V.V. 7 Flights / week Bangkok - Chiang Mai V.V. 2 Flights / week Bangkok - Ahmedabad V.V. Currently 6 aircrafts Airbus 320-200 (As at 30 JUN 2013) 7 Flights / week Chiang Mai - Phuket V.V. 2 Flights / week Bangkok - Ahmedabad V.V. # of aircraft Fleet Plan (2012-2015) 2 Flights / week Phuket New Delhi V.V. 2 Flights / week Phuket - Mumbai V.V. Year 2012 4 International & Domestic Route* Total Year 2013 2 10 Countries 5 Year 2014 Year 2015 20 17 28 Cities 12 Frequency / Week 123 *Note: Based on Traffic Program Information Summer 2013 Issue 2 : Effective : 31 MAR - 26 OCT 2013
New Route Bangkok-Sendai v.v. - 3 flights/week (Effective: December 03, 2013 onwards) Bangkok-Chongqing v.v. - 3flights/week (Effective: October 27, 2013 onwards) Bangkok-Changsha v.v. - 3 flights/week (Effective: October 27, 2013 January 15, 2014) - 5 flights/week (Effective: January 16, 2014 onwards) 29
Nok Air Route Network 14 Aircrafts (As at 30 JUN 2013) Nok Air based at Don Mueang Airport Currently operates only domestic point-to-point 12 of Boeing 737-800 2of ATR 72-500 Route Total Coach Coach + Ferry Coach + Hi speed catamaran As at 30 JUN 2013 Domestic Cities 20 Freq./Week 455 TG s Proportion of Shareholding 39.2% 30
THAI s Upgrade and Retrofit Schedule # of Aircraft First Business Economy Progress B747-400 No. 7-12 6 All: Completed MAR. 2012 B747-400 No. 13-18 6 # 13-17: Completed APR 2013 # 18: By SEP 2013 B777-200 8 # 1-8: Completed JUN 2013 B747-400 Improved seats & new PTV in all classes B777-200 Installed in seat VDO in Y class 31
% of Sales 12 11.38 Ticket Sales Via Internet Internet Sales 11.83 10 8 6 4 11.02 8.69 5.80 3.55 10.46 10.43 10.27 8.77 8.81 8.78 8.89 8.20 8.09 7.95 8.81 7.78 8.58 7.65 8.27 7.26 8.03 7.79 7.77 7.63 6.76 7.32 7.33 7.18 5.97 6.01 5.69 5.16 5.31 5.34 4.98 5.00 4.80 4.68 4.51 4.26 4.15 4.15 3.81 3.63 3.34 3.28 3.25 11.44 8.76 6.03 2 Year 2009 Year 2010 Year 2011 Year 2012 Year 2013 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 32
e-services Check-in via Mobile (http://m.thaiairways.com) Check-in via Internet # of PAX % 16,000 14,000 12,000 10,000 8,000 6,000 4,000 13,379 10.00 8.00 6.00 4.00 2.00 8.31 8.24 8.33 8.06 8.03 7.02 6.98 7.37 7.35 7.28 5.93 5.47 5.35 5.46 5.66 4.10 4.09 3.75 3.65 3.66 1.78 1.87 2.15 2.31 1.97 9.17 8.52 7.61 7.80 7.81 7.47 7.38 8.30 8.60 7.49 6.15 6.23 6.50 6.57 6.50 6.71 5.95 5.08 5.16 5.36 4.86 4.90 4.63 4.01 3.26 3.36 3.45 2.67 2.8 2.86 2,000 0 0.00 Year 2009 Year 2010 Year 2011 Year 2012 Year 2013 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 33
Fuel Management Hedging combined with fuel surcharge greatly mitigates fuel price fluctuation risk Monthly fuel hedging 2008-2011 - % of consumption by month Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08 Jul- 08 Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul- 09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul- 10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul- 11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul- 12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul- 13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 0% 0% 0% 0% 3% 17% 3% 3% 7% 20% 23% 38% 41% 44% 44% 49% 35% 27% 13% 13% 17% 20% 27% 30% 44% 44% 44% 47% 47% 47% 51% 51% 51% 50% 50% 56% 67% 67% 67% 66% 66% 66% 69% 69% 69% 69% 69% 69% 80% 80% 80% 80% 80% 80% 73% 76% 79% 84% 84% 84% 93% 93% 93% 85% 85% 85% 90% 90% 90% 90% 90% 90% 34
Operating Statistics 35
Operating Statistics Passengers Carried* Q2 13 = 5.11 million (Increased 5.2% YoY) (Million) Year 2011 Year 2012 Year 2013 6.00 4.00 4.92 4.20 4.77 4.50 5.16 4.86 5.10 5.50 5.69 5.11 2.00 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 *Included THAI Smile Freight Carried Q2 13 = 159,104 tons (Decreased 3.7% YoY) (Tons) 190,000 160,000 Year 2011 Year 2012 Year 2013 172,749 174,570 175,708 177,173 168,199 170,625 165,110 166,187 165,759 159,104 130,000 100,000 Q1'11 Q2'11 Q3'11 Q4'11 Q1'12 Q2'12 Q3'12 Q4'12 Q1'13 Q2'13 36
THAI s NO. of PAX By Class By Area Quarter 2 2013 Non Revenue 2.7% First class 0.3% Business class 8.5% Premium economy class 0.1% Middle East 1.5% Australia 5.5% Europe 11.3% North Pacific 0.9% Africa 0.4% Non-Schedule 0.1% Economy class 88.3% Northern 31.3% Domestic 23.8% Southern 9.3% Western 11.1% Indo-China 4.7% Total passengers for Quarter 2 2013 = 4.77 million Total passengers for Quarter 2 2012 = 4.86 million 37
THAI Smile s NO. of PAX By Class By Area Quarter 2 2013 Non Revenue 1.5% Business class 5.0% International 23.3% Economy class 93.5% Domestic 76.7% Total passengers for Quarter 2 2013 = 341,817 38
Passenger* 100.0 80.0 ASK RPK C/F *Included THAI Smile 39 77.8 77.6 73.0 71.8 61.9 65.7 77.2 74.8 69.9 65.7 61.0 68.1 77.3 79.0 78.4 78.3 71.5 75.5 79.7 78.7 71.7 73.5 76.7 78.3 78.8 80.4 80.3 75.8 66.4 69.2 75.3 8,000 6,000 4,000 2,000 - Year 2011 Year 2012 (%) 60.0 40.0 20.0 - Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul- 11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul- 12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul- 13 (Million) Operating Statistics Year 2013 YoY (Month) YoY (Year to date) JUL'13 JUL'12 YoY% JAN-JUL'13 JAN-JUL'12 YoY% MASK 7,287 6,605 10.3 49,244 45,334 8.6 MRPK 5,486 5,263 4.2 37,020 34,970 5.9 Cabin factor (%) 75.3 79.7-5.5 75.2 77.1-2.5
Operating Statistics Freight Year 2011 Year 2012 Year 2013 (Million) (%) 80.0 60.0 53.7 56.6 60.1 58.0 57.8 57.7 55.1 54.2 56.1 56.3 55.2 54.3 49.7 54.7 59.8 56.4 55.9 54.1 52.2 50.4 55.2 56.6 55.5 51.6 47.1 51.1 54.6 52.7 52.1 50.3 47.4 600 400 40.0 200 20.0 - - Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11 Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 ADTK RFTK F/F YoY (Month) YoY (Year to date) JUL'13 JUL'12 YoY% JAN-JUL'13 JAN-JUL'12 YoY% MADTK 417 423-1.3 2,876 2,783 3.3 MRFTK 198 221-10.5 1,459 1,517-3.8 Freight factor (%) 47.4 52.2-9.3 50.7 54.5-6.9 40
Operating Statistics Passenger Yield (Including Fuel Surcharge) (THB/Km) 2.73 2.83 2.87 2.84 2.63 2.78 2.73 2.74 2.54 2.70 2.67 2.76 2.68 2.78 2.69 2.64 2.44 2.78 2.62 2.51 2.42 2.64 2.60 2.53 2.45 2.63 2.74 2.55 2.75 2.67 2.40 2.70 2.72 2.56 2.81 2.71 2.61 2.81 2.72 2.72 2.78 2.86 3.00 2.50 2.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year 2010 Year 2011 Year 2012 Year 2013 Freight Yield (Including Fuel Surcharge) 9.66 9.70 10.11 9.46 9.08 9.42 9.87 9.06 9.10 9.95 9.00 8.91 9.08 9.30 9.65 10.17 9.42 9.89 10.09 9.95 9.65 10.02 10.10 (THB/Km) 9.53 10.01 9.60 9.30 9.82 9.53 9.84 10.00 9.60 9.37 9.80 9.62 9.72 10.01 9.33 10.15 9.44 9.47 10.00 9.00 8.00 7.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year 2010 Year 2011 Year 2012 Year 2013 Note: Yield 2012 is passenger - sales commission and discount/rpk Based on RCM report 41
Aircraft Utilization Hours / Day / Aircraft Aircraft Utilization 42
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