by Mitch Connor

 

Thailand’s flagship carrier, Thai Airways (THAI) is optimistic about its revenue this year. Thai Airways is anticipated to accumulate at least 130 billion baht in revenue this year after its net profit in the first quarter reached 12.5 billion baht.

 

THAI CEO Chai Eamsiri announced yesterday that the airline is projected to complete its financial rehabilitation in 2025 as planned, Bangkok Post reported.

Eamsiri highlighted that the national carrier generated 41.5 billion baht of revenue during the first quarter, an impressive increase of 271.2% compared to the income of 11.1 billion baht during the same period last year. This notable growth is attributed to the rise in commercial flights.

 

Eamsiri also pointed out that flights to some popular tourist destinations, such as Japan and Korea, surged in the last quarter, and flights to China resumed on March 1.

 

The improved earnings provided the carrier with 42.2 billion baht of cash flow, a significant increase from 5.7 billion baht last year.

 

Full story: https://thethaiger.com/news/national/thai-airways-anticipates-130-billion-baht-revenue-this-year-following-strong-first-quarter-results

 

-- © Copyright Thaiger 2023-05-13

 

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Unfortunately revenue doesn't mean profit let's see the bottom line

16 minutes ago, webfact said:

an impressive increase of 271.2% compared to the income of 11.1 billion baht during the same period last year.

no it's not.

 

the world was closed for a whole long time and then it opened again. basic economics really. 

 

 

"Never anticipate a profit; always anticipate a loss" is an old accounting adage. Seems that here in Thailand, whenever someone dreams ups forecast (and I mean dreams up), the money's already in the bank.

According to THAI's own website, their fleet currently consists of 43 aircraft plus another 20 for Thai Smile, taking the total fleet size to 63.

Prior to the pandemic, the airline had been operating six Airbus A380s as well as nine Boeing 747-400s. All of these large aircraft were sent into storage over the course of 2020 and it looks like they will be permanently retired. In addition, pre-pandemic, the airline also had a fleet of 15 A330-300s with an average age of 11 years with some of these being very young aircraft. Not sure what's going to happen to these aircraft but I don't think think they are operation, nor do they form of THAI's fleet on the website. So it looks like THAI's pre-pandemoc fleet has decreased by a total of 30 aircraft. I wonder how they will account for this?

yes  ... i'm sure they do ...  the world has seen how good they are at maths so say no more

That's good, they can start paying off the 600 billion Baht they owe.

On 5/12/2023 at 8:18 PM, ozz1 said:

Unfortunately revenue doesn't mean profit let's see the bottom line

Exactly.

Clever and manipulative Thai math. 

Nothing up their sleeves.

4 hours ago, thaiowl said:

So it looks like THAI's pre-pandemoc fleet has decreased by a total of 30 aircraft. I wonder how they will account for this?

There must be 30 aircraft parked up on the tarmac at Swampy with their graphics slowly fading in the sunshine - are these part of "the fleet"?

Edited May 14, 20233 yr by London Lowf

I've flown LHR-BKK-HKT (and back) about ten times over the last few years and always with Thai. Apart from the Sandbox flight they have aleways been 100% full. I find it easy to believe that all of their long-haul flights would be similar.

 

"Billions" of Baht makes my head spin, but this sounds like a pretty successful business.