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Thai Airways books 55 billion baht of profits in 2021 after rehabilitation plans


webfact
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1 hour ago, ezzra said:

I find it hard to believe those figures, they hardly flew anywhere, never had a promotional fares i should know because i was looking at their website they didn't fly to many of their regular destinations and still made 55 billions baht profit? some crafty book keeping methods to say the least...

Creative accounting!

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Guessing the guys at the top that broke the airline are in line for huge bonuses for increasing profits by not flying....if it starts again I guess the same guys will break it again using their privileges (Like carrying huge amounts of shopping the for some reason don't go through customs).

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"Thailand’s flag carrier Thai Airways International (THAI) recorded a net profit of 55.1 billion baht in 2021, recovering from a massive net loss of 141 billion baht in 2020". 

 

WOW! ("Lies, damned lies and Statistics")

Edited by sambum
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It's just selling off property and assets.

 

Mix that with a little debt forgiveness.

 

Unsustainable.

 

Screenshot_20220228-153042.jpg.1f3f2332d636cfbc7b8c88d3cda66b2d.jpg

 

 

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How are they accounting for the 50 or more planes that have continued to rot at BKK airport? In addition to issues with engines and avionics, I can't imagine what the mildew covered cabin might look like after having no ventilation for two years. 

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3 hours ago, ezzra said:

I find it hard to believe those figures, they hardly flew anywhere, never had a promotional fares i should know because i was looking at their website they didn't fly to many of their regular destinations and still made 55 billions baht profit? some crafty book keeping methods to say the least...

Constructive Bookkeeping at it's best 555

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If Thai borrows $100 and then says I can only give you back $40, Thai has "won" $60. But unfortunately that is not liquidity and the borrowed money has already been spent or burned in the past.

Also it is not a commercial profit that is certain if the turnover is greater than the costs.

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