webfact Posted February 9, 2023 Share Posted February 9, 2023 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 - 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. The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information. Link to comment Share on other sites More sharing options...
Pique Dard Posted February 9, 2023 Share Posted February 9, 2023 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 1 1 Link to comment Share on other sites More sharing options...
Joe Farang Posted February 9, 2023 Share Posted February 9, 2023 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." 1 Link to comment Share on other sites More sharing options...
hotchilli Posted February 9, 2023 Share Posted February 9, 2023 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. 2 Link to comment Share on other sites More sharing options...
Popular Post ChrisY1 Posted February 10, 2023 Popular Post Share Posted February 10, 2023 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 Link to comment Share on other sites More sharing options...
steven100 Posted February 10, 2023 Share Posted February 10, 2023 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 ? 1 Link to comment Share on other sites More sharing options...
zzaa09 Posted February 10, 2023 Share Posted February 10, 2023 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. 2 Link to comment Share on other sites More sharing options...
ronster Posted February 10, 2023 Share Posted February 10, 2023 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 ???????? Link to comment Share on other sites More sharing options...
herfiehandbag Posted February 10, 2023 Share Posted February 10, 2023 Have they imported the new management structure from TAT? 1 Link to comment Share on other sites More sharing options...
mikebell Posted February 10, 2023 Share Posted February 10, 2023 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. Link to comment Share on other sites More sharing options...
hotchilli Posted February 10, 2023 Share Posted February 10, 2023 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. 1 Link to comment Share on other sites More sharing options...
BritScot Posted February 10, 2023 Share Posted February 10, 2023 Like all good scams it's always just around the corner! Link to comment Share on other sites More sharing options...
Liverpool Lou Posted February 10, 2023 Share Posted February 10, 2023 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. Link to comment Share on other sites More sharing options...
Liverpool Lou Posted February 10, 2023 Share Posted February 10, 2023 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. Link to comment Share on other sites More sharing options...
Liverpool Lou Posted February 10, 2023 Share Posted February 10, 2023 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? Link to comment Share on other sites More sharing options...
BritScot Posted February 10, 2023 Share Posted February 10, 2023 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. 1 Link to comment Share on other sites More sharing options...
bangon04 Posted February 10, 2023 Share Posted February 10, 2023 "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..... 2 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted February 10, 2023 Share Posted February 10, 2023 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? Link to comment Share on other sites More sharing options...
Joe Farang Posted February 10, 2023 Share Posted February 10, 2023 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. Link to comment Share on other sites More sharing options...
Emdog Posted February 11, 2023 Share Posted February 11, 2023 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 Link to comment Share on other sites More sharing options...
SmartyMarty Posted February 11, 2023 Share Posted February 11, 2023 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. Link to comment Share on other sites More sharing options...
nigelforbes Posted February 11, 2023 Share Posted February 11, 2023 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. Link to comment Share on other sites More sharing options...
FritsSikkink Posted February 11, 2023 Share Posted February 11, 2023 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. Link to comment Share on other sites More sharing options...
FritsSikkink Posted February 11, 2023 Share Posted February 11, 2023 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. Link to comment Share on other sites More sharing options...
nigelforbes Posted February 11, 2023 Share Posted February 11, 2023 13 minutes ago, FritsSikkink said: No store would refund you anything on a 15 year old sofa. Whoooosh! Link to comment Share on other sites More sharing options...
jacko45k Posted February 12, 2023 Share Posted February 12, 2023 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? 1 Link to comment Share on other sites More sharing options...
zzaa09 Posted February 12, 2023 Share Posted February 12, 2023 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. Link to comment Share on other sites More sharing options...
Mr Meeseeks Posted February 12, 2023 Share Posted February 12, 2023 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. 1 1 Link to comment Share on other sites More sharing options...
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