Financial statements for the three months and nine months ended June 30, 2003 with a clarification.
Enclosed The financial statements for the three - month and nine - month periods ended June 30, 2003 of Thai Airways International Public Company Limited and its subsidiaries
In the third quarter or three - month periods ended June 30, 2003, revenues from the sale of goods and the rendering of services of the Company and subsidiaries are Baht 23,682 million, a decrease of Baht 7,562 million or 24.2% from the same period last year due to the impact of the Irag War during March to May and Severe Acute Respiratory Syndrome (SARS) started since April. As a result, a lot of passengers decreased. However, the Company has reduced its costs espectially decreasing in flight frequencies to comply with the decrease in passengers. Also, the Company has gain on foreign currency exchange amount of Baht 1,486 million. As a result, the Company incurs a loss only Baht 1,273 million, as compared to a net profit of Baht 3,452 million with a gain on foreign currency exchange amount of Baht 2,132 million in the same period last year. For the nine - month periods ended June 30, 2003, although the Company was effected by the Irag War and SARS in the third quarter, the revenues from the sale of goods and the rendering of services of the Company and subsidiaries amounted to Baht 96,936 million, an increase of 2.7% from the same period last year. Moreover, the Company is still having a gain on foreign currency exchange amount of Baht 2,039 million. As a result, the Company appears a net profit after tax amount of Baht 7,023 million, lower than the same period last year amount of Baht 2,202 million or 23.9% due to a gain on currency exchange amount of Baht 6,132 million.
3rd Quarter Financial Statement
