Ocean X: China post-CNY – less cloud, more balloon; Mærsk's moves; a tough Q4
Things are looking up, in China at least
Thai has had a tough year. Not only is the country’s entire aviation sector under scrutiny over safety standards, but Thai itself has had to restructure. It has not worked yet. The carrier reported a $378m loss in the second quarter, worse that the previous year’s $218m. The carrier blamed the size of the loss on the weak cargo market. Its volumes were down a severe 23% year-on-year, while capacity fell 9.3%. Yield fell 6.6% and load factor was down 10 points to 58.3%.