Thai widens second quarter loss on weak cargo demand

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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%.