Oil prices batter Thai Airways

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The reports of airlines reporting huge losses due to oil prices just keep flying in...

Oil prices batter Thai Airways | The Courier-Mail

HIGH fuel costs have battered Thailand's aviation industry, leaving flag carrier Thai Airways groaning under its losses while smaller operators struggle to survive

Oil prices jumped above 147 dollars per barrel on July 11. They have since fallen but remain volatile, casting a cloud over an industry that had seen a fleet of new players taking off.

Thai Airways International blamed fuel costs, as well as a massive foreign exchange loss, for its 9.23 billion baht ($274.3 million) loss in the second quarter - its worst quarterly showing in a decade.
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Thai may as well blame oil prices although I have a feeling Thai got burned a lot more on the foreign currency exchange than is being reported and are looking for excuses.
 
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