Thai AirAsia targets B1bn earnings in 2010

Chief executive Tassapon Bijleveld was upbeat yesterday about the low-cost carrier's 2010 outlook as the airline celebrated its sixth anniversary by continuing its aggressive expansion plan.

Despite a weak year for the industry, the airline expected to finish 2009 with net profit of more than 100 million baht and revenue of more than 8 billion, while carrying about 5.1 million passengers.

This year, it projects revenue of 12 billion baht while carrying 5.8 million passengers as it raises capacity by 25% over 2009.

In 2010, it aims to achieve an average load factor of 85%, up from 78% last year and better than the industry average of 76%, said Mr Tassapon.

Its focus is three-pronged: launching its first foray to India, strengthening Phuket as its second hub in Thailand and ensuring a successful fleet modernisation to all Airbus A320s, he said.

Thai AirAsia plans to embark on its first daily flight from Bangkok to Mumbai in April, to be followed by services to New Delhi, Kolkata, and Hyderabad later in the year, subject to Indian government approval.