New Chief Executive Officer Chai Eamsiri (right) gives details of the momentum the recovering airline has generated since May 2022 that now sees it hurling towards a late 2024 date for emerging from its rehabilitation plan. He revealed the firm has a positive cash flow of ฿30 billion with an expanding flight network and volume on an 80% load factor. It is on track, Mr Chai said, for a 2025 relisting of its shares on the Stock Exchange of Thailand (SET). He talked about the airline negotiating with US firm Boeing for long-term deals on Boeing 787 widebody aircraft or Dreamliners (inset).

 

by James Morris and Son Nguyen

 

Bullish Chief Executive Officer Chai Eamsiri explains that the airline is on course to emerge from rehabilitation by the end of 2024. Volume continues to rise and it expects to maintain a load factor of 80% throughout 2023 with new flight routes being inaugurated to China, Asia and Europe.

 

Thai Airways is running ahead of schedule to achieve a full rehabilitation of its business by the end of 2024 and a return of its shares for trading on the Stock Exchange of Thailand (SET) by 2025, said its Chief Executive Officer Chai Eamsiri on Thursday. He revealed that the airline predicts a strong positive cash flow of ฿30 billion this year and may only now need half the ฿25 billion extra working capital requirement anticipated as it continues to expand its activities with a further boost to its income and profitability.

 

Newly appointed Chief Executive Officer of Thai Airways, a veteran of the airline industry with 37 years experience and who had previously served as the Chief Financial Officer (CFO) of the firm, gave an upbeat assessment of its performance to a well-attended press conference on Thursday in Bangkok.

 

Full story: https://www.thaiexaminer.com/thai-news-foreigners/2023/02/09/thai-airways-rakes-in-cash-80-load-ceo-chai-eamsiri/

 

-- © Copyright Thai Examiner 2023-02-10

 

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46 minutes ago, webfact said:

Bullish Chief Executive Officer Chai Eamsiri explains that the airline is on course to emerge from rehabilitation by the end of 2024.

...oh yeah, provided you don't follow europeans and americans who have boycotted russian oil

How is the part in Bold possible when every airline in the World was grounded in 2021 except for a minimal service.

 

"Mr Chai said the airline was generating an annual cash flow of ฿30 billion per annum up from ฿6 billion in 2021 when its recovery first took off."

3 hours ago, webfact said:

Newly appointed Chief Executive Officer of Thai Airways, a veteran of the airline industry with 37 years experience and who had previously served as the Chief Financial Officer (CFO) of the firm

So he's cut out all the graft and freebies and found it can actually turn a profit, who'd have thought.

28 minutes ago, hotchilli said:

So he's cut out all the graft and freebies and found it can actually turn a profit, who'd have thought.

That will never stop....indeed, who would have thought....an exceptional faker!

3 hours ago, Pique Dard said:

...oh yeah, provided you don't follow europeans and americans who have boycotted russian oil

what do you mean?  please explain what russia's oil has to do with their re-hab plan ?

53 minutes ago, hotchilli said:

So he's cut out all the graft and freebies and found it can actually turn a profit, who'd have thought.

Yeah.

I suspect there's a little more underlying than the story we're getting.

After decades of corruption and dodgy business practices, I'm almost finding this miraculous turnaround to be a little bit shady. 

Shares in a company I’m sure still up to its eyeballs in massive debt !

They must have sold a lot of old chairs and doughnuts ????????

Have they imported the new management structure from TAT?

6 hours ago, webfact said:

he airline predicts a strong positive cash flow of ฿30 billion this year

Does that sum include all the freebies/junkets from VIPs and their gardeners?  I'd love to be able to afford to fly Thai.

1 hour ago, zzaa09 said:

Yeah.

I suspect there's a little more underlying than the story we're getting.

After decades of corruption and dodgy business practices, I'm almost finding this miraculous turnaround to be a little bit shady. 

Me too... 

Miraculous turnaround from billions in the red, an operation that was corrupt from the top to the bottom.

Now thinking the can get back on the stock market.

 

Like all good scams it's always just around the corner!

11 hours ago, Pique Dard said:

...oh yeah, provided you don't follow europeans and americans who have boycotted russian oil

No reason that Thailand would do that.

9 hours ago, Joe Farang said:

How is the part in Bold possible when every airline in the World was grounded in 2021 except for a minimal service.

Every airline in the world was not grounded entirely in 2021.

15 minutes ago, BritScot said:

Like all good scams it's always just around the corner!

What "scam" are you suggesting THAI is involved in...early debt rehabilitation, that's a scam?

20 minutes ago, Liverpool Lou said:

What "scam" are you suggesting THAI is involved in...early debt rehabilitation, that's a scam?

Yes! They are a scam: from the corruption, jobs for the boy's, not paying back cancelled flights, plus let's not forget the government's sell off of shares just before the auditors took over. 

"He revealed the firm has a positive cash flow of ฿30 billion"

 

but there seems to be a lot of people online complaining that they cannot get the refunds owed from THAI.....

19 minutes ago, BritScot said:

44 minutes ago, Liverpool Lou said:

What "scam" are you suggesting THAI is involved in...early debt rehabilitation, that's a scam?

Yes! They are a scam: from the corruption, jobs for the boy's, not paying back cancelled flights, plus let's not forget the government's sell off of shares just before the auditors took over. 

Er, no, none of that is scamming.  How much are you owed from cancelled flights that has been confirmed is not going to be refunded to you?

7 hours ago, Liverpool Lou said:

Every airline in the world was not grounded entirely in 2021.

I didn't say that. Don't misquote me.

Is the "positive cash flow" due to revenues from transporting people and freight or does the flow come from selling off assets? Did they mention "profits"? That would be important to me in deciding if Thai was recovering

They may raking in the cash but they’re still leagues behind their competitors in terms of inflight service. On my recent Bangkok to Melbourne flight the food was dreadful, the wines like paint thinner, I was told I couldn’t have a glass of milk, the entertainment Centre claims to have kids games (but doesn’t) and the global route map is from years ago. Still incompetent.

I held a certain LTF fund that contained an airline's shares for over 15 years, they increased in value very nicely. Then one day, said airline decided to file for protection and as a part of that deal, agreed to refund to the fund, the face value of the shares it had purchased 15 years earlier. Face value, what a deal. Imagine buying a sofa and returning it to the store and they tell you they'll refund the price of 15 years ago....said LTF duly crashed and burned.

On 2/10/2023 at 7:44 AM, ronster said:

Shares in a company I’m sure still up to its eyeballs in massive debt !

They must have sold a lot of old chairs and doughnuts ????????

Search bankruptcy, court protection and restructuring. 

1 hour ago, nigelforbes said:

I held a certain LTF fund that contained an airline's shares for over 15 years, they increased in value very nicely. Then one day, said airline decided to file for protection and as a part of that deal, agreed to refund to the fund, the face value of the shares it had purchased 15 years earlier. Face value, what a deal. Imagine buying a sofa and returning it to the store and they tell you they'll refund the price of 15 years ago....said LTF duly crashed and burned.

No store would refund you anything on a 15 year old sofa.

13 minutes ago, FritsSikkink said:

No store would refund you anything on a 15 year old sofa.

Whoooosh!

20 hours ago, SmartyMarty said:

They may raking in the cash but they’re still leagues behind their competitors in terms of inflight service. On my recent Bangkok to Melbourne flight the food was dreadful, the wines like paint thinner, I was told I couldn’t have a glass of milk, the entertainment Centre claims to have kids games (but doesn’t) and the global route map is from years ago. Still incompetent.

I hear some of the European carriers are just as bad.....you will get charged more for 2 more inches of recline too! Which competitors are you specifically thinking of... maybe SQ or CX?

6 hours ago, jacko45k said:

I hear some of the European carriers are just as bad.....you will get charged more for 2 more inches of recline too! Which competitors are you specifically thinking of... maybe SQ or CX?

In the end......we're all being played. 

On 2/10/2023 at 4:05 PM, BritScot said:

Yes! They are a scam: from the corruption, jobs for the boy's, not paying back cancelled flights, plus let's not forget the government's sell off of shares just before the auditors took over. 

Like most everything else here, TG is a boondoggle. 

 

It will continue to function and be propped up by the taxpayer so long as it continues to serve the interests and line the pockets of the select few.