Thai Airways Q3 net loss worse than expected

PHOTO: Thai Airways Q3 net loss worse than expected

BANGKOK - Thai Airways International reported a quarterly net loss for second consecutive quarter on Thursday, hit by lower passenger yield, fierce competition and foreign exchange losses.

The airline posted a net loss of 6.19 billion baht (S$244 million) for the July-September period, versus a profit of 1.75 billion baht a year earlier, and a 8.4 billion baht loss in the previous quarter.

The loss was higher than the 5.6 billion baht forecast by five analysts surveyed by Reuters.

Thai Airways, facing regional competition from bigger rivals such as Singapore Airlines and Cathay Pacific Airways , has cut its 2013 revenue and profit growth target due to weak performace earlier this year.