Thai Airways International (THAI) is set to revise down its earnings estimate for the last quarter of this year amid ongoing political conflicts and dwindling passenger numbers.

THAI President Sorajak Kasemsuvan said lingering political demonstrations in Thailand have severely affected the country’s tourism sector as over 30 countries, including China and Australia, have issued travel advisories against travelling to the kingdom.

Executives are holding a meeting to assess the company’s financial situation before releasing the official figures. Mr Sorajak noted that if political tensions ease before year-end, Thailand’s tourism and the company’s outlook will improve.

Analysts earlier expected THAI to perform well during the last quarter as it marks the start of the high season for Thai tourism. In the third quarter, THAI posted a net loss of nearly 6.2 billion baht, a reversal from the net profit posted during the same period last year.

News from NNT