Thai Airways Declares Over B10bn Baht in Profit in 2022

[snoop1130]

 

BANGKOK, Feb 24 (TNA) – Thai Airways International (THAI) Plc reported a 11.15 billion baht net profit last year and will expand its fleet to accommodate more travellers this year.

 

Piyasvasti Amranand, chairman of THAI’s committee overseeing the airline’s rehabilitation plan said the net profit was recorded with successful implementation of the company’s restructuring plan.

 

This year, the national carrier will expand its fleet to increase six new aircraft to operate 71 in total and will open routes to all major cities in Europe, China, Japan, South Korea and South Asia to accommodate inbound travellers.

 

Full Story: https://tna.mcot.net/english-news-1122003

 

-- © Copyright Thai News Agency 2023-02-24

 

- 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.

[kotsak]

Seems selling lunchboxes and kitchenware was very profitable ????

 

[London Lowf]

Maybe they can now afford to fix the seats, seatbelts, screens, give the cabin crew a raise so that they can manage a trademark smile and give the planes a respray - taxiing around Swampy in the daytime and looking at the fleet, they are all different shades of purple depending on how long they've been exposed to UV light.

 

For eight years I've been "faithful" to Thai but next trip I'm trying Emirates.

[herfiehandbag]

Almost too good to be true isn't it!

[rbkk]

Most sensible things I've done since moving to Thailand last century? Vowing to never fly Thai Airways again (circa 2002)...Cancelling UBC/ True visions; still waiting on the deposit refund! (c. 2008)...Cancelling IpStar who were unable to supply the Internet package speed I was paying 2,500 baht a month for (250mb)(c. 2006.)

[still kicking]

6 minutes ago, rbkk said:

Most sensible things I've done since moving to Thailand last century? Vowing to never fly Thai Airways again (circa 2002)...Cancelling UBC/ True visions; still waiting on the deposit refund! (c. 2008)...Cancelling IpStar who were unable to supply the Internet package speed I was paying 2,500 baht a month for (250mb)(c. 2006.)

It all depends on where you live, I live in OZ and always used Thai because it was the only non-stop flight to Bangkok never had any problems at all 

[phetphet]

It’s good that they are getting back into profit, but to be fair, they didn’t have much competition last year on some routes.

EVA for instance

 

Once the other airlines get fully back to flying the Bangkok routes, and competition hots up, we will see if they can compete price wise.

 

EVA’s planes are new and their service is very good.. Thai looked quite  jaded when I flew with them in early 2022.

[josephbloggs]

3 hours ago, London Lowf said:

For eight years I've been "faithful" to Thai but next trip I'm trying Emirates.

Yeah, that's handy if you want to fly to Dubai. There's actually no other choice. 

Agree with you as I would always choose Emirates over Thai for long haul but when I fly in SE Asia it is not much use. Thai is a decent regional airline but not a good long haul one.
 

[josephbloggs]

19 minutes ago, phetphet said:

EVA’s planes are new and their service is very good.. Thai looked quite  jaded when I flew with them in early 2022.

Eva Air's 777s are on average 10 years old, so not a young fleet at all.

Thai's fleet are a similar average age, some very new, some older, but overall about the same as EVA.

Service is subjective. I find Thai's regional service good, their long haul service poor.

Edited February 24, 2023 by josephbloggs

[Thomas KH]

Sketchyyyyyy... 

[zzaa09]

Dodgy.

They do like to blow their own horn towards things that we should be instinctively suspicious of.

Akin to the Mafia publicly claiming their profit margins.

[webfact]

Thai Airways rides Asia's travel reopening back to profit
Carrier to add more flights to China, Japan as it eyes exit from restructuring

YOHEI MURAMATSU, Nikkei staff writer

 

A Thai Airways plane at Tokyo's Narita Airport. The airline plans to increase flights to Japan this year. (Photo by Konosuke Urata)

BANGKOK -- Thai Airways International's operating profit swung back to the black in 2022, the carrier reported Friday, as passenger revenue recovered thanks to the easing of coronavirus restrictions.

 

Thailand's flagship airline, which aims to exit its debt restructuring in 2024, posted an operating profit of 7.7 billion baht ($220 million) for the year, rebounding from a year-earlier loss of 19.7 billion baht.

 

Revenue jumped more than fourfold on the year to 105 billion baht, helping absorb higher fuel costs. Passenger numbers grew 5.5-fold to 9.01 million, while revenue from ticket sales and baggage was up more than 13-fold at 74 billion baht.

 

Thai Airways reported a net loss of 252 million baht for the year, weighed down by the termination of aircraft leases and other charges, compared with a net profit of 55.1 billion baht in 2021, which saw a significant one-time gain on debt restructuring.

 

Full story: https://asia.nikkei.com/Business/Transportation/Thai-Airways-rides-Asia-s-travel-reopening-back-to-profit

 

-- © Copyright Nikkei Asian Review 2023-02-25

 

- 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.

[Dante99]

7 hours ago, herfiehandbag said:

Almost too good to be true isn't it!

creative accounting

[2baht]

Is the profit not offset by the losses of the past decade?

[zzaa09]

10 minutes ago, 2baht said:

Is the profit not offset by the losses of the past decade?

Of course it does. 

Real meaning of such stories: "we're still operating deep in the red" 

[RichardColeman]

Just pure profiteering by putting up prices 40%  when no competition on some routes - disgraceful 

[ignore it]

Now that they suspended the lazy stewardess' "prettys" who didn't pick up the lunch trays of a couple of "Karens" (who couldn't put the trays on the floor) and thus endangered the safety of the other passengers and perhaps even all of Suvarnabhumi, next year's profits should soar.

Edited February 25, 2023 by ignore it

[jacko45k]

8 hours ago, still kicking said:

It all depends on where you live, I live in OZ and always used Thai because it was the only non-stop flight to Bangkok never had any problems at all 

Yes, that is more the point...Thai offer one of the few direct options for many European countries, Oz and Nz cities too, and could get me to Bali in a timely manner..... 

[zzaa09]

31 minutes ago, RichardColeman said:

Just pure profiteering by putting up prices 40%  when no competition on some routes - disgraceful 

Corporatism - big business.

[sammieuk1]

Amazing Thailand where massive profits appear from thin air in no time at all ????

[steven100]

yes I'm sure you did    !    going from 19.7 Billion baht loss just a year ago to a 10 Billion baht profit   !!!!

 

An incredible accountant and his calculator ....  Amazing Thailand   !!! 

[zzaa09]

4 minutes ago, steven100 said:

yes I'm sure you did    !    going from 19.7 Billion baht loss just a year ago to a 10 Billion baht profit   !!!!

 

An incredible accountant and his calculator ....  Amazing Thailand   !!! 

Even more astounding is that the beloved Thai media just repeats what they're given without challenging or questioning....

[steven100]

1 minute ago, zzaa09 said:

Even more astounding is that the beloved Thai media just repeats what they're given without challenging or questioning....

They never ask a question .....  they don't scutinize any report given to them,  it's similar to Thai's never complaining about a product or service,  how can anything ever improve if they have that mentality.

[Peterphuket]

Yes easily earned if you don't get done and travel is not reimbursed and people are waiting for the money.

I'm still waiting too, sinds March 2020.

[tomazbodner]

9 hours ago, herfiehandbag said:

Almost too good to be true isn't it!

That man at the beginning of article turned Thai around before, by cutting out freeloaders. He was promptly replaced and Thai pushed back into debt. It didn't take much to turn it around again - in same way as last time. You don't need to guess what happens to him next.

 

You can't have all these VIPs in 1st class with their entire families on shopping trips actually paying for their tickets, could you now...

[JackGats]

Good, now let them reinstate full redeeming of miles! I have over 130 miles on Thai Airways, only to find out I can redeem them on practically nothing, ie domestic flights +  very few international destinations and then economy only. I bet the business class seats are reverved for VIP courtesy tickets. During Covid, it was foolish of me to continue accrueing miles on RoyalOrchid. Any other Star Alliance frequent flyer program would have been better.

[actonion]

Maybe T.O.T.  did their accounts

[iaminwa]

Lol, TIT.

[worrab]

15 hours ago, London Lowf said:

For eight years I've been "faithful" to Thai but next trip I'm trying Emirates.

You will not regret that. I am now totally Emirates as they knock spots of Thai. I use them for BKK to LHR and time wise, depending how quick you need to be there, it can be done in 14 hours against 11.5 direct. As I fly Business Class, I make the most of the lounges and chauffeur drive!! Wonderful.

Edited February 25, 2023 by worrab
Extra wording

[topt]

So we have several different numbers to look at -

From the first link - 

17 hours ago, snoop1130 said:

Thai Airways International (THAI) Plc reported a 11.15 billion baht net profit last year

But in the second (a foreign news article) a more detailed breakdown including -

4 hours ago, webfact said:

posted an operating profit of 7.7 billion baht ($220 million) for the year, rebounding from a year-earlier loss of 19.7 billion baht.

and what I would have thought was the most important number.........

4 hours ago, webfact said:

Thai Airways reported a net loss of 252 million baht for the year