Thai Airways records recovery with US$782 million profit in 2023

[zhounan]

Who are these philanthropists who decide to fly with Thai Airways paying +25% compared to other airlines?

[zhounan]

19 hours ago, newbee2022 said:

Last week I watched a report about world wide airfare prices: 5% was added by higher fuel costs, salaries, regular costs aso. However, 30% is just grabbing profit. Because they can🥳

 

It's technically called Privatization of Profit and Socialization of Loss.

When going good the bosses make money, when going bad the people pay.

[jacko45k]

26 minutes ago, zhounan said:

Who are these philanthropists who decide to fly with Thai Airways paying +25% compared to other airlines?

Those not wanting to go through the trials and tribulations found at DMG!

[Georgealbert]

22 hours ago, dogfish180 said:

So why are there still 20+ Thai Airways planes parked up behind the terminal since Covid? 🤔

The current recorded Thai Airways fleet is 70 aircraft, 27 owned by Thai Airways, the rest are leased aircraft.

 

From that fleet, 7 are currently parked, not flying.

 

Those parked are

 

Boeing 787-8 Dreamliner -Wapi Pathum 9.3 years old, leased aircraft

Boeing 777-300ER - Sulalivan 8.4 years old

Boeing 777-200 - Phetchabun 16.3 years old

Airbus A350-900 - Phaisali 6.1 Years old

Airbus A350-900 - Pho Sai 6.1 Years old, leased aircraft

Airbus A320-200 - Ang Thong 10.3 Years old, leased aircraft

Airbus A320-200 - Ranong 10.3 Years old, leased aircraft

 

One leased A350 - 900 6.4 years old is stored, waiting to go into service.

 

 

 

Edited February 25 by Georgealbert

[Georgealbert]

36 minutes ago, Georgealbert said:

 

Typing error above, should read 

 

The current recorded Thai Airways fleet is 71 aircraft, 27 owned by Thai Airways, the rest are leased aircraft.

[sandyf]

19 hours ago, soi3eddie said:

 

BA are not currently flying into BKK as they don't have enough planes after scrapping all their B747s. They took the B777s used for BKK and used them for more profitable routes such as North America. I am told by a friend, who was a route scheduler at BA that they will likely recommence the route once new plane orders are delivered.

 

BA are part of IAG and Qatar Airways have 25% of IAG. BA still operate London to BKK via Doha using Qatar Aiways.

It was Qatar Airways that got BA out of trouble during the strike, they loaned a/c and crews. Always helps to have friends in high places.

[sandyf]

On 2/24/2024 at 2:01 PM, Funkymover said:

of course they have, they are charging double price , uk to thailand in summer is £1400 return , used to pay £600  - £650, before the putin war 

Individuals are free to choose which airline to use. I paid 67K baht for 2 of us UK return in May just before Christmas, friend of mine just booked and arrived from Dublin paid £650 return.

If what you are trying to imply, "they are charging double price", was true, they wouldn't get the bookings.

Bit arrogant to suggest that all Thai Airways customers are mugs.

[steven100]

yes i'm sure they did ..... and i'm sure everyone will believe this bs.   TIT where they make up any story they like.  🤣

[zzaa09]

36 minutes ago, steven100 said:

yes i'm sure they did ..... and i'm sure everyone will believe this bs.   TIT where they make up any story they like.  🤣

Assured, they'll make up figures as it suits and befits their larger than illusion existence. 

Simply have to examine TG's unsavoury practices and history and the long time principles involved. 

Very similar as to how mafia gets on with their business.

[steven100]

5 minutes ago, zzaa09 said:

Assured, they'll make up figures as it suits and befits their larger than illusion existence. 

Simply have to examine TG's unsavoury practices and history and the long time principles involved. 

Very similar as to how mafia gets on with their business.

exactly ... how could any sane person believe this if you look at their losses over the last 20+ years.

They will say anything to the media.

[geisha]

On 2/24/2024 at 8:14 AM, hotchilli said:

Amazing turn-around... 

I’m highly suspicious of these figures. The airline was bankrupt, going from bankrupt to these figures and huge orders to Boeing gets my alarm bells ringing. 

[Bday Prang]

On 2/24/2024 at 5:46 AM, Georgealbert said:

Full company/management data and their analysis of the 2023 performance release by Thai Airways.

 

https://ir.thaiairways.com/wp-content/uploads/2024/02/20240223-thai-mdna-y2023-EN.pdf

fascinating reading, I'm sure😴

[Mike Lister]

Baiting post and Bickering flame post removed.

[steven100]

3 hours ago, geisha said:

I’m highly suspicious of these figures. The airline was bankrupt, going from bankrupt to these figures and huge orders to Boeing gets my alarm bells ringing. 

outside financial institutions will see this as a joke,    they know Thailand lies about everything.   🤣

[steven100]

3 hours ago, geisha said:

I’m highly suspicious of these figures. The airline was bankrupt, going from bankrupt to these figures and huge orders to Boeing gets my alarm bells ringing. 

exactly...  a bunch of cheating cowboys would be close to the fitting.

[Mr Meeseeks]

8 hours ago, Georgealbert said:

The current recorded Thai Airways fleet is 70 aircraft, 27 owned by Thai Airways, the rest are leased aircraft.

 

From that fleet, 7 are currently parked, not flying.

 

Those parked are

 

Boeing 787-8 Dreamliner -Wapi Pathum 9.3 years old, leased aircraft

Boeing 777-300ER - Sulalivan 8.4 years old

Boeing 777-200 - Phetchabun 16.3 years old

Airbus A350-900 - Phaisali 6.1 Years old

Airbus A350-900 - Pho Sai 6.1 Years old, leased aircraft

Airbus A320-200 - Ang Thong 10.3 Years old, leased aircraft

Airbus A320-200 - Ranong 10.3 Years old, leased aircraft

 

One leased A350 - 900 6.4 years old is stored, waiting to go into service.

 

 

 

 

There were many more than those seven parked on the runway when I flew in on Wednesday. 

 

Edited February 25 by Mr Meeseeks

[steven100]

1 hour ago, Mr Meeseeks said:

 

There were many more than those seven parked on the runway when I flew in on Wednesday. 

 

oh yes '   but some on here believe everything Thailand says 🤣😂 ......

[Georgealbert]

1 hour ago, Mr Meeseeks said:

 

There were many more than those seven parked on the runway when I flew in on Wednesday. 

 

Hard to tell from the picture, but look like the A380s?

 

Maybe still in Thai livery and parked, but no longer leased by Thai

 

Maybe post a credible link to an aviation site if you think differently.

 

Here is an independent link showing the facts

 

https://www.planespotters.net/airline/Thai-Airways-International?refresh=1

Edited February 25 by Georgealbert

[Georgealbert]

1 hour ago, steven100 said:

oh yes '   but some on here believe everything Thailand says 🤣😂 ......    idiots

Can you please provide a credible link that  shows my details were not true?

 

 

[TroubleandGrumpy]

Sold a lot of assets (planes and properties) and reduced expenses as per bankruptcy requirements - an expected result. Lets see how things go over the next 2-3 years. If they put their hands out for government money - liquidate and sell it all off to the highest bidder, and then bring in all new management and staff.

[Georgealbert]

10 minutes ago, TroubleandGrumpy said:

Sold a lot of assets (planes and properties) and reduced expenses as per bankruptcy requirements - an expected result. Lets see how things go over the next 2-3 years. If they put their hands out for government money - liquidate and sell it all off to the highest bidder, and then bring in all new management and staff.

Fully agree.

 

Short term measures to look good with little long term planning.

 

When the ministry of transport remains the biggest share holder, even if hidden, money/ funding is never going to be an issue.

 

 

Edited February 25 by Georgealbert

[vangrop]

The operating profit, excluding one-time items, also saw an upturn, reaching 24.6 billion baht.

Says it all. Its creative accounting as usual, I bet they again had loss. Too many parked airplanes, too high rates, too much people sucking the same lollipop as before. I never never never ever will buy one share of this company based on cronyistic management.

[Georgealbert]

6 minutes ago, vangrop said:

The operating profit, excluding one-time items, also saw an upturn, reaching 24.6 billion baht.

Says it all. Its creative accounting as usual, I bet they again had loss. Too many parked airplanes, too high rates, too much people sucking the same lollipop as before. I never never never ever will buy one share of this company based on cronyistic management.

Please post you believe the financial statement is wrong.

 

i like facts, hard to find here, not opinions based on nothing, so favorited by this thread

Edited February 25 by Georgealbert

[vangrop]

12 minutes ago, Georgealbert said:

Please post you believe the financial statement is wrong.

 

i like facts, hard to find here, not opinions based on nothing, so favorited by this thread

If you read correctly, Monsieur, I didn't post their fincial statement is wrong. There are underlying so called one time items which they exclude from their 2023 normal financial reporting. Other facts that characterize this company is their poor customer service. For example they didn't refund the majority of fares from canceled flights during covid times. They give you the facts, this will become a thriving company in the near future. For somebody as factual as you, I wouldn't hesitate and suscribe immediately to their shares when available. Good luck with that.

[Mr Meeseeks]

1 hour ago, Georgealbert said:

Hard to tell from the picture, but look like the A380s?

 

Maybe still in Thai livery and parked, but no longer leased by Thai

 

Maybe post a credible link to an aviation site if you think differently.

 

Here is an independent link showing the facts

 

https://www.planespotters.net/airline/Thai-Airways-International?refresh=1

 

The photo was taken on Wednesday 21st Feb 2024, dozens of planes in Thai livery parked there, not only 7 as was asserted in your earlier post.

 

Do you not believe your own eyes?

[Georgealbert]

5 hours ago, Georgealbert said:

Please post you believe the financial statement is wrong.

 

i like facts, hard to find here, not opinions based on nothing, so favorited by this thread

So you not saying the financial statement is wrong, just in your own words “Says it all. Its creative accounting as usual”., could you please highlight where that evidence is? I posted the full statement earlier.
 

What has their poor customer service to do with this thread?
 

Yes I agree their refund policy has been crap, but that really is just an off topic rant and like most of this thread, just allows a bit of Thai (Thai Airways) bashing.

[Georgealbert]

4 hours ago, Mr Meeseeks said:

 

The photo was taken on Wednesday 21st Feb 2024, dozens of planes in Thai livery parked there, not only 7 as was asserted in your earlier post.

 

Do you not believe your own eyes?

Yes you took pictures of Thai Airways planes at a Thai airport, I assume BKK, that I believe, but it still does not make these planes part of the Thai Airways current fleet.

 

The A380s, which seem to be in your picture, of which there were 6 have been withdrawn from service in the last few years, and are not part of current fleet, this is how aviation all over the world works.
 

Thai Airways will probably never fly them again, and if they are not sold they will be scrapped at some future time, maybe used as a new cafe in Bangkok.

It still makes my post correct, Thai Airways, current fleet is 71 aircraft, which is measured the same as every other airline.

British Airways use an old air port in the Cotswolds to put their unwanted planes, are these still part of British Airways current fleet?

 

https://www.thesun.co.uk/travel/20838846/britain-eerie-airplane-graveyard-dump-jet/

It is probably cheaper, for Thai Airways, to store them at the airport than at one of the many aircraft graveyards.

 

https://www.airportspotting.com/10-of-the-worlds-best-aircraft-graveyards/

Edited February 25 by Georgealbert

[hotchilli]

12 hours ago, geisha said:

I’m highly suspicious of these figures. The airline was bankrupt, going from bankrupt to these figures and huge orders to Boeing gets my alarm bells ringing. 

Thailands flagship airline must be heavily subsidised behind the scenes.

[Mike Lister]

Their debt restructuring deal saved them millions, that's partially why they are back in profit. Investment funds such as UOBAM Good Governance LTF purchased TA shares back in 200X. The fund performed really well, until part of the debt restructuring deal meant that investors such as the LTF fund, had to forego any increases in share value, or dividends, since the purchase date. This meant the fund held the shares and earned nothing on them for close to twenty years. 

[steven100]

7 hours ago, Georgealbert said:

Can you please provide a credible link that  shows my details were not true?

 

 

Did I at any time say your comment wasn't true?

 

I did say however,   how could any sane person believe TG if you look at the past 20+ years of loses.