THAI reports nine-month results

[webfact]

 

By TTR WEEKLY

  

BANGKOK: Thai Airways International and its subsidiaries report an operating loss of THB21,491 million, excluding one-time transactions, for the first nine months of 2021.

 

The airline released financial details in its latest progress reports on its 2021 rehabilitation plan to Thailand’s stock exchange earlier this week.

 

Total revenue during the nine months reached THB14,990 million, lower than 2020 by THB29,230 million, representing a decline of 66.1%.

 

Expenses declined by 53.3% (down THB41,695 million) due to a decline in production, transport volume and cost-cutting measures over the nine months. Bottom line expenses stood at THB36,481 million.

 

Full story: https://www.ttrweekly.com/site/2021/11/thai-reports-nine-month-results/

 

-- © Copyright TTR Weekly 2021-11-20

 

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[steven100]

close it down and break it up ..... stop the bleeding as it will never be a viable airline on it's own and with it's current management.

It's on the verge of total collapse as it can't get credit, it has no cash, it owes billions to creditors,  and now it's trying to sell puff pastries .....   

[ezzra]

54 minutes ago, webfact said:

Thai Airways International and its subsidiaries report an operating loss of THB21,491 million

In 9 months of pregnancy usually the is a new a screaming and kicking new born comes into the world....TG however, manged to have a still born in those 9 months, how befitting to a clownish airlines that have rested on their laurels for much too long...

[bdenner]

Didn't I read in these pages, not so long ago, they made some sort of ridiculous profit during this period????

 

Edit:- I found it!

 

https://aseannow.com/topic/1238188-thai-airways-฿25-billion-funding-request-from-state-coffers-rebuffed-by-a-senior-debt-official/?tab=comments#comment-16953258

 

Edited November 20, 2021 by bdenner
Citation

[trainman34014]

Just watch the losses keep growing; they just don't know when to stop flogging a dead horse !

[ChrisY1]

So Thb 51 Billion profit reported for the first nine months just last week...now this! Thai are either telling BS, or the journalists and news agencies are stupid!

[GinBoy2]

In the wonderful world of TG things are nearly always never as they seem.

 

I think I said in the last thread about them posting ridiculous profits, that was just accounting trick on how you report distressed assets.

 

https://simpleflying.com/thai-aiways-2021-financial-results/?utm_term=Autofeed&utm_medium=Social&utm_content=echo&utm_source=Facebook#Echobox=1637023413

 

There are some gems in there;

 

"Meanwhile, the auditors declined to express an opinion on the financial statements. Welcome to the wild and wonderful world of restructuring Thai Airways."

 

"Thai Airways says the auditor’s decision isn’t due to queries about the accuracy of the financial statements. Instead, owing to the three reasons stated, Deloitte Touche Tohmatsu Jaiyos aren’t confident Thai Airways is a going concern."

 

Gotta love when your own auditors are convinced you are a going concern!

[hotchilli]

3 hours ago, trainman34014 said:

Just watch the losses keep growing; they just don't know when to stop flogging a dead horse !

But the dead horse is still giving for some.

[zzaa09]

7 hours ago, ezzra said:

In 9 months of pregnancy usually the is a new a screaming and kicking new born comes into the world....TG however, manged to have a still born in those 9 months, how befitting to a clownish airlines that have rested on their laurels for much too long...

This was a long time coming and to be expected. 

No such reclaim of recovery will be plausible, as it continues to be managed/controlled by the same unworthy scoundrels. 

 

The attempt to put lipstick on a pig. 

[nauseus]

5 hours ago, ChrisY1 said:

So Thb 51 Billion profit reported for the first nine months just last week...now this! Thai are either telling BS, or the journalists and news agencies are stupid!

That 51b must have been just for the pastries. Such a shame. Used to be a great airline.  

[natway09]

The reporter has no idea between a P L & a balance sheet & just believes what he is told

[scorecard]

8 hours ago, natway09 said:

The reporter has no idea between a P L & a balance sheet & just believes what he is told

Fact ..... reporters in Thailand write down what was said / take the media handout, and it's copied directly into the publication even if paragraph 1 clashes with paragraph 2 in terms of data or whatever. 

 

They don't ask questions. Many/most would not be capable of understanding what's been said / what's in the media handout and not capable of building in depth questions. 

[cyril sneer]

Good, the only airline I refuse to use 

[MrJ2U]

Recently statements from the government suggest that the government will bail out the airline at the last minute.

 

 

[GinBoy2]

4 hours ago, MrJ2U said:

Recently statements from the government suggest that the government will bail out the airline at the last minute.

 

 

Well that's exactly what'll happen.

 

They reduced their stake to under 50% to enable TG to enter restructuring, but just as the lights are about to go out, they will inject money in the form of buying a majority share.

 

And that will be that, back to the roller coaster of the absurdity that is TG

[scorecard]

12 minutes ago, GinBoy2 said:

Well that's exactly what'll happen.

 

They reduced their stake to under 50% to enable TG to enter restructuring, but just as the lights are about to go out, they will inject money in the form of buying a majority share.

 

And that will be that, back to the roller coaster of the absurdity that is TG

And then a further quite complex situation in regard to the current administration / bankruptcy etc., stuff:

 

• - Is there a situation which means there is no need for an administration to proceed?
• - Is there a situation which means an administration is not legal?
• - and more...

Ultimately quite possible TG falls back to it's old ways/behaviors/attitudes etc,, and becomes the 'play thing' of very powerful people who want/will do whatever to get a return to the past. 

[MrJ2U]

10 hours ago, GinBoy2 said:

Well that's exactly what'll happen.

 

They reduced their stake to under 50% to enable TG to enter restructuring, but just as the lights are about to go out, they will inject money in the form of buying a majority share.

 

And that will be that, back to the roller coaster of the absurdity that is TG

Well said.

[EricTh]

Just give us a discount and soon it will be back in the green.