Thai Airways International and its subsidiaries reported an operating profit of Bt13.7 billion ($418 million) for the quarter ended 31 March, up 23% year on year amid “continued growth” in passenger demand. Its revenue was up 12% to Bt51.6 billion, as operating expenses rose almost 9% to Bt38 billion due to an increase in flights. Thai Airways recorded a first-quarter net profit of Bt9.8 billion, a fourfold increase from Bt2.4 billion a year before. As of 31 March, Thai’s cash and cash equivalents stood at Bt92.5 billion, up almost 10% from the end of last year. During the quarter, Thai carried 4.33 million passengers, up 11.6% year on year. ASKs were up 21%, with a similar increase in RPKs, while load factor was flat at 83.3%. Meanwhile, passenger yield fell 7.3% as it continues to moderate post-pandemic. The group ended the first quarter with a fleet of 78 aircraft – five more than at the same time last year. In its outlook, the carrier notes risks related to the uncertainty of US tariffs, even as the aviation industry continues to grapple with supply chain disruptions, rising costs in labour and maintenance and yield normalisation. Nevertheless, Thai remains confident in the long term growth of the industry, especially as the Asia Pacific region remains the largest market with a projected annual growth of 5.1% compared with the global average of 4%.

An alleged illegal shipment of Boeing aircraft tyres en route to Azerbaijan via Belarus and Russia has been intercepted by customs officers in Poland. The Lublin National Revenue Administration (KAS) says it has seized five tonnes of tyres for Boeing civil aircraft after a truck was inspected in Koroszczyn on the border between eastern Poland and Belarus. It alleges that the tyres being transported by the truck had been falsely declared as car and bus tyres and the shipment broke European Union sanctions against Belarus and Russia, which have been in place since Russia's full-scale invasion of Ukraine in 2022. "The transit of this type of goods through the territory of Belarus and Russia is subject to sanctions under Council Regulation (EU) No. 833/2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine, and Council Regulation (EC) No. 765/2006 concerning restrictive measures in view of the situation in Belarus and Belarus' participation in Russia's aggression against Ukraine," states KAS. The goods were sent by an unnamed company based in Spain and the recipient was from Azerbaijan. KAS says that criminal proceedings have been initiated in relation to customs fraud and the possible violation of sanctions is under investigation.

Ryanair believes a reduction in oil prices could make a substantial difference to its cost base this year and next, given that the group has locked in lower hedges for its fuel. The low-cost airline is 85% hedged for this year at an average oil price of $76 per barrel, compared with being 78% hedged at $79 in the year ended 31 March. For summer 2026, Ryanair "jumped on" recent weakness in oil prices following the USA's announcement of tariffs, to secure 40% of its requirements at $66 per barrel, which represents a 13% saving versus this year, said group chief executive Michael O’Leary during a 19 May briefing on annual results. With the oil price currently at around $62 per barrel, O'Leary also highlighted the possibility of "meaningful savings" on the roughly 15% of its fuel requirements for which it is unhedged this summer. "We think there's a real possibility of making material oil price savings, not just for us but for the rest of the European industry," says O'Leary. Across fiscal 2025, the company spent €5.2 billion ($5.9 billion) on fuel, up 2% on 2024. Savings on fuel should offset higher ATC charges and wage costs, O'Leary notes. Fuel typically accounts for around a third of an airline's cost, but this can be higher for some, particularly low-cost carriers. Airlines generally hedge to guarantee certainty over their costs, instead of trying to time the market to get the best possible deal. O'Leary added that he expects the US administration to focus on boosting world crude supplies and reducing prices in advance of mid-term elections next year, "and there may be a short term or medium term gain for airlines in general, but Ryanair in particular, as we move forward to the remainder of [fiscal year 2026] as we have weaker [than fiscal year 2025] costs". Across the year end 31 March, Ryanair Group's operating costs rose 9% to €12.4 billion. Profit after tax slipped 16% to €1.6 billion.