THAI Claims Current Revenue Approaches Pre-Covid Levels

[snoop1130]

 

BANGKOK (NNT) - Following the tourism industry’s recovery, Thai Airways International (THAI) has reported that its monthly income is almost back to pre-pandemic levels.

 

Suvadhana Sibunruang, the airline’s interim CEO, stated that THAI had so far resumed around 70% of its international flights with a cabin factor (passenger load factor) of 85%.

 

Suvadhana reported that the better load factors contribute to the airline’s current monthly income of around 12 billion baht, down from 15 billion baht before the pandemic.

 

The THAI acting CEO highlighted that the airline has returned to profitability since May this year by decreasing costs and expenses, obtaining additional revenue sources, and shrinking its fleet from 103 to 61 aircraft following its bankruptcy filing in 2020.

 

In 2021, THAI declared a debt of approximately 400 billion baht. However, creditors accepted a revised rehabilitation plan in September this year due to a faster-than-anticipated recovery of the country’s tourism industry. The amended rehabilitation plan permits THAI to borrow only 25 billion baht by 2024, as opposed to 50 billion baht under the original plan.

 

Suvadhana added that THAI is also on track to resume trading on the stock market in 2025 or sooner, following the return to profitability.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221223111815083

 

-- © Copyright NNT 2022-12-23

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

[ThailandRyan]

6 minutes ago, snoop1130 said:

Thai Airways International (THAI) has reported that its monthly income is almost back to pre-pandemic levels.

So we must be close to 40 million travelers already for 2022.  Sounds promising....lol

[Wiggy]

So they’ve reduced the fleet by 40%, but revenue is almost at pre-pandemic levels. Sounds to me like some hefty price increases have been taking place.

[mikebell]

30% fewer flights yet still approaching pre-covid levels of revenue?  This can only be achieved by hiking prices and/or making Big-wigs pay for their tickets.  I can't see them doing the latter.

[RichardColeman]

8 minutes ago, mikebell said:

This can only be achieved by hiking prices

Since the return cattle flight I just booked return in March next year is up from £550 odd to £820 I's have to say that increase is far more than needs be and just profiteering

[In the jungle]

I have just been looking at return flights to Brisbane.

 

Scoot = around 40K (Gold Coast airport)

Numerous airlines = around 60K

Thai = around 117K

 

That is cattle class.

[Ricardo]

I guess doubling fares would increase revenues, although they're still 20%-short of the previous level, according to the article !   ...   "the airline’s current monthly income of around 12 billion baht, down from 15 billion baht before the pandemic."

 

So when will they offer to refund my cancelled-ticket from three years ago, then ?  ????

[hotchilli]

17 hours ago, snoop1130 said:

Following the tourism industry’s recovery, Thai Airways International (THAI) has reported that its monthly income is almost back to pre-pandemic levels.

Although somewhat recovered from Covid I don't see it as anywhere near the Pre-Covid numbers?

[chilly07]

Typically  Thai! 

They have doubled their  prices so they are hauling half the passengers for the same revenue.

[Partenavia]

So how does that stack up, with all the Thai planes still parked up at Swampy??

[bangon04]

5 hours ago, chilly07 said:

Typically  Thai! 

They have doubled their  prices so they are hauling half the passengers for the same revenue.

and presumably they are still losing money...........

[jacko45k]

23 hours ago, Ricardo said:

So when will they offer to refund my cancelled-ticket from three years ago, then ? 

Get in the queue mate..... mine was a non refundable ticket but they cancelled the flight!