THAI Expects Early Exit From Rehabilitation Plan

[snoop1130]

 

BANGKOK (NNT) - Thai Airways International (THAI) has announced it is on track to exit its court-sanctioned rehabilitation plan ahead of schedule, with CEO Chai Eamsiri anticipating a mid-2024 departure. The airline’s consistently improving performance aligns with recovery in the tourism sector, which has been crucial to the rebound.

 

THAI and its subsidiary, Thai Smile Airways, have reported profits for four consecutive quarters. The second quarter of this year recorded pre-tax profits of 2.3 billion baht, marking a remarkable 171% increase compared to the same period last year - the airline’s highest profit in two decades.

 

To further its financial progress, THAI plans to register on the stock market, making its shares publicly tradable on the Thai bourse, potentially by March 2025.

 

With an estimated cash current account of 50 billion baht, THAI expressed confidence in managing its substantial debt and interest payments, averaging around 10 billion baht annually from next year onward, with the goal of settling all debts by the end of 2031.

 

Chai affirmed that the ongoing political situation will not have significant repercussions on the airline, noting its commitment to pursuing investments in the U-Tapao aviation maintenance center - a project valued at about 7 billion baht.

 

With THAI’s financial status on the mend and its strategies for restructuring and future investments falling into place, analysts believe the airline is well-positioned for a stable resurgence in the coming years.

 

By Paul Rujopakarn

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG230814132052735

 

-- © Copyright NNT 2023-08-14

 

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[sammieuk1]

The 2.3 billion profit comes from a single ticket sale from the prices they are charging these days ????

[steven100]

honestly, these guys can spin anything to the public they want,  the bean counter can adjust the numbers to turn their loses into profit ..... absolute nonsense. Thai airways hasn't made a proper profit in 50 yrs because of all the freebies given out to the 5,000+ aunties, uncles, cousins, generals and the list goes on ....

 

Amazing Thailand    !!      haha

[ExpatOilWorker]

Dod they make a full refund for all the flights they canceled during Covid?

[Liverpool Lou]

2 hours ago, ExpatOilWorker said:

Dod they make a full refund for all the flights they canceled during Covid?

Yes.

[zzaa09]

2 hours ago, steven100 said:

honestly, these guys can spin anything to the public they want,  the bean counter can adjust the numbers to turn their loses into profit ..... absolute nonsense. Thai airways hasn't made a proper profit in 50 yrs because of all the freebies given out to the 5,000+ aunties, uncles, cousins, generals and the list goes on ....

 

Amazing Thailand    !!      haha

Aside from these familiar charities, they've long had a reputation of bad and corrupted business acumen. 

[RichardColeman]

I would say that anyone that takes advantage of people and doubles the cost of their product in a limited market will eventually get out of financial difficulty

[2baht]

Thai can whistle for my money, no way would I pay their ridiculous extortionate prices!

[PETERTHEEATER]

20 hours ago, ExpatOilWorker said:

Dod they make a full refund for all the flights they canceled during Covid?

No.

[jacko45k]

On 8/14/2023 at 6:29 PM, ExpatOilWorker said:

Dod they make a full refund for all the flights they canceled during Covid?

I can, with experience, tell you...no.