Thai Airways returns to Q3 profit

BANGKOK, Nov 9 (Reuters): Thai Airways International Pcl said Wednesday it returned to a net profit for the third quarter, helped by gains from foreign exchange. The national carrier said it made a net profit of 2.45 billion baht ($79.8 million), or 1.12 baht per share, in the July-September quarter, turning round from a 15.1-million baht net loss a year earlier. The profit compared with the 2.25 billion baht forecast by Phillip Securities. Analysts expect the airline business in the fourth quarter to be adversely affected by weak tourism due to the flooding in Thailand. "Thai Airways's fourth-quarter outlook would be overshadowed by risks as the Thai floods continue," said Kim Eng Securities analyst Jaroonpan Wattanwong. Before the earnings announcement, Thai Air stock ended down 2.1 per cent at 18.40 baht, while the main Thai index lost 1.6 per cent.