- Flight operations such as flight perdiem and accommodation of cockpit and cabin crews, navigation fees, airport fees, handling fees, maintenance and overhaul aircraft and engines, and reservation expenses totaled THB 36,744 million, which was a decrease of THB 473 million or 1.3% from last year. - Depreciation was THB 13,155 million, an increase of THB 1,223 million or 10.2% from exercising the option to purchase 6 leased aircraft and acquiring 4 new aircraft 2 Airbus A340-500s and 2 Airbus A340-600s aircraft. - Marketing expense was THB 3,825 million, an increase of THB 298 million or 8.4 % resulting from increased advertising and public relations to promote new routes and to stimulate sales during the period of low season and downturn in tourism resulting from the Tsunami disaster. - Insurance expense was THB 1,902 million, an increase of THB 304 million or 19.0% from the previous year due to an increase in insurance premium to third parties. Other expense comprise mostly of gain on foreign exchange for fiscal year 2005 was THB 1,470 million compared to a loss of THB 2,179 million from last year. Due to the stronger baht, foreign currency loans denominated in USD, JPY and EUR decreased in baht value. Share of net profit from associated companies was THB 127 million, a decrease of THB 31 million or 19.6% from last year because Sky Asia Company Ltd. incurred an operating loss. Interest expense totaled THB 4,329 million, a decrease from last year of THB 592 million or 12.0%, coming from the decrease in interest rates.
2. Financial Position Assets At the end of fiscal year September 30, 2005, the Company’s total assets was THB 231,638 million, which was increase of THB 38,428 million or 19.9% from the end of fiscal year September 30, 2004. The current and non-current assets accounted for 19.1% and 80.9% of total assets, respectively consisting of : September 30, 2005 MTHB
% of
September 30, 2004 MTHB
total assets Current assets Property, plant and equipment-net Other non-current assets
% of total assets
44,148
19.1
51,991
26.9
180,983
78.1
134,041
69.4
6,507
2.8
7,178
3.7
Current assets decreased by THB 7,843 million or 15.1% mainly due to a decrease of THB 10,959 million or 52.5% in cash and cash equivalents deriving from the sale of fixed assets, whereas other current assets increased by THB 2,173 million or 18.9% due to an increase in tax refund amount of THB 1,830 million. 98
Thai Airways International Public Company Limited