Thai Airways on track for Stock Exchange return amid rehabilitation success

[webfact]

 

Anticipations are high for Thai Airways International Plc (THAI) to make its comeback on the Stock Exchange of Thailand in the coming year, as disclosed by Tibordee Wattanakul, the director-general of the State Enterprise Policy Office (Sepo).

 

The national flag carrier’s liquidity is on the mend, and operations are systematically aligning with its rehabilitation plan. This positive shift is contingent on the airline recording a profit for 12 consecutive months and achieving positive equity.

 

The Finance Ministry has clarified that it has no intentions of reinstating the company as a state enterprise while continuing to hold a stake of less than 50% in the struggling national carrier.

 

Despite this, the state remains the majority shareholder of THAI.

Wattanakul noted an improvement in THAI’s financial performance under the rehabilitation programme. The company has strategically limited its expenses by reducing its workforce by half and downsizing its fleet by approximately 40% via leasing.

The aviation industry faced a tremendous blow from the pandemic that spanned over two years, with THAI being one of the victims. 

 

by Alex Morgan

Photo by Cityswift via Flickr

 

Full story: The Thaiger 2024-02-05

 

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[retarius]

Oh good. People will soon be able to speculate in Thai Airways shares and make a boat load of money.

Seems to me that airlines ago periodically broke, and in good times all of them make money, so maybe good times are coming.... 

[hotchilli]

4 hours ago, webfact said:

Anticipations are high for Thai Airways International Plc (THAI) to make its comeback on the Stock Exchange of Thailand in the coming year, as disclosed by Tibordee Wattanakul, the director-general of the State Enterprise Policy Office (Sepo).

I can't help thinking Thai Airways got a free pass somewhere along the line.. 

[realfunster]

10 hours ago, webfact said:

The company has strategically limited its expenses by reducing its workforce by half

 

Hmmm...more details are needed but :

 

1) Was this initially COVID related or 

2) Were they really that overstaffed ??

3) I hope they haven't overcooked the redundancies leading to maintenance and/or service issues ?

 

I am still waiting for re-instatement of my small investment in THAI, as part of my RMF. It was written down/off by my RMF fund manager a few years ago. 

I assume they thought it a safe bet- being State owned at that time - until the government pulled out the rug. 

 

I'm surprised no-one has launched a class action lawsuit, a lot of shareholders/investors must have taken a hit.