Thai airlines soar to record profits amid tourism boom

[MangoKorat]

The last time I read anything about Thai Airways, it seemed like they were going bust.  Was that allowed to happen and if not, have they paid all their creditors and customers who's flights were cancelled because of Covid?

[Mike Lister]

A flame and the response to it have been removed, think carefully before posting again.

[orchidfan]

3 hours ago, still kicking said:

What price hike? I just booked Perth BKK with Thai air for just $537 and that is non-stop return.

One way ?

What time of year,because this is not reflected on their booking website !!!

[still kicking]

7 minutes ago, orchidfan said:

One way ?

What time of year,because this is not reflected on their booking website !!!

No, return flight 10th of April 760 AUD or 537 US dollars depends on the day 

[orchidfan]

20 minutes ago, still kicking said:

No, return flight 10th of April 760 AUD or 537 US dollars depends on the day 

Ok. So out of Oz let's talk AUD.

My browsing for later in the year was about 50% higher than that.

(Take a look)

 

So ×2 (Thai wife) in THB makes it very expensive.

Even SQ, with a couple of hours stopover in Changi is /was much cheaper.

We'll go with SQ I think.

 

Pre covid, we used to pay around THB18,000 each...now it's double.

[arithai12]

Well, time to (re)open a TG town office in Chiang Mai maybe?

Edited March 5 by arithai12

[steven100]

8 hours ago, webfact said:

reported unprecedented profits of 28 billion baht

do they really think anyone is going to believe these amazing figures   !    absurd .....   talk about a circus ..

It may well be a profit in their eyes,  but it's called fudging the books to make it look like a profit,

 

 

 

Edited March 5 by steven100

[steven100]

2 hours ago, MangoKorat said:

have they paid all their creditors and customers who's flights were cancelled because of Covid?

guess  ?      

[still kicking]

11 minutes ago, orchidfan said:

Ok. So out of Oz let's talk AUD.

My browsing for later in the year was about 50% higher than that.

(Take a look)

 

So ×2 (Thai wife) in THB makes it very expensive.

Even SQ, with a couple of hours stopover in Changi is /was much cheaper.

We'll go with SQ I think.

 

Pre covid, we used to pay around THB18,000 each...now it's double.

Last time we flew Malaysian Airways (worst trip Ever) can't remember the correct price it clearly stated on the ticket baggage allowance 20 KG plus hand luggage when we booked in at the airport, we were told no,no,no 20 KG is for 2 and we ended up paying another 200 AUD on top of it. Hardly any time to catch the connecting flight since we had to transfer to another terminal by bus. No lift in sight (had a broken ankle) That is the reason I am glad Thai is back to Perth because it is non-stop. 

[still kicking]

6 minutes ago, steven100 said:

guess  ?      

Ask all Quantas customers if they received there's.

[steven100]

1 minute ago, still kicking said:

Ask all Quantas customers if they received there's.

What airline is Quantas   ?   I've never heard of them.

[Gknrd]

Love these "Soaring to new heights" stories. More like despirate and just above total bankruptcy.

 

[thesetat]

9 hours ago, webfact said:

Thailand's aviation sector has experienced an impressive recovery,

I am curious. Given other news about the rates of travel being so much higher than normal. If this is the real cause of their recovery. 

[steven100]

2 hours ago, MangoKorat said:

The last time I read anything about Thai Airways, it seemed like they were going bust.  Was that allowed to happen and if not, have they paid all their creditors and customers who's flights were cancelled because of Covid?

 

yes .... amazing isn't it,  couple of years ago they were bankrupt and trying to instigate rehabilitation proceedings..

22 May 2020 — THAI has sustained a net loss of THB 11.6 billion in 2018 and THB 12 billion in 2019, and has total debt of approximately THB 240 billion  ....

 

how the heck can you go from debt of 240 Billion to a 28 Billion profit in just 3 1/2 years..     

 

I know they sold some assets and cut costs but they didn't have 200 Billion in assets.  They had planes on lease..

 

They must have one hell of an accountant that's for sure.

[still kicking]

5 minutes ago, steven100 said:

 

yes .... amazing isn't it,  couple of years ago they were bankrupt and trying to instigate rehabilitation proceedings..

22 May 2020 — THAI has sustained a net loss of THB 11.6 billion in 2018 and THB 12 billion in 2019, and has total debt of approximately THB 240 billion  ....

 

how the heck can you go from debt of 240 Billion to a 28 Billion profit in just 3 1/2 years..     

 

I know they sold some assets and cut costs but they didn't have 200 Billion in assets.  They had planes on lease..

 

They must have one hell of an accountant that's for sure.

Highlights include:

• Airline industry net profits are expected to reach $9.8 billion in 2023 (1.2% net profit margin) which is more than double the previous forecast of $4.7 billion (December 2022).
• Airline industry operating profits are expected to reach $22.4 billion in 2023, much improved over the December forecast of a $3.2 billion operating profit. .

[steven100]

6 minutes ago, still kicking said:

Highlights include:

• Airline industry net profits are expected to reach $9.8 billion in 2023 (1.2% net profit margin) which is more than double the previous forecast of $4.7 billion (December 2022).
• Airline industry operating profits are expected to reach $22.4 billion in 2023, much improved over the December forecast of a $3.2 billion operating profit. .

sorry .... don't believe a word of it..   

 

but you can.

[still kicking]

1 minute ago, steven100 said:

sorry .... don't believe a word of it..   

 

but you can.

Well, go back to Redfern then.

[steven100]

15 minutes ago, still kicking said:

Well, go back to Redfern then.

that was a dangerous area once ....

[beautifulthailand99]

6 hours ago, RichardColeman said:

Complete hogwash and profiteering - my return flight today is £400 more than it was prior to covid. Pure theft. Shame BA is not flying direct to atleast give the appearance of competition. They will be pricing themselves out of the market - family of 4 return flights to the UK for a holiday now is near £4,000 before you even step foot on thai soil

In the UK now we knew a lot of Thai families and most can't afford to go home any more particularly those still working so when you factor in all the families that have their handouts when they land.

[MangoKorat]

3 hours ago, steven100 said:

guess  ?      

ermmmmmmmmm no. How's that?  Was some 'way out' found for them?

[MangoKorat]

3 hours ago, steven100 said:

They must have one hell of an accountant that's for sure.

Maybe with accounting like most things, there's a Thai style?

[kinyara]

Asean Now tourism and aviation experts got this one so wrong. When the country reopened the consensus on here was that tourism to Thailand, especially long-haul European tourism, wouldn't recover due to the higher cost of air travel. However what has clearly become apparent is that Thailand's customers are still prepared to pay the higher airfares to come here, rather than save the money and holiday close to home.

 

What a surprise.

[RayC]

On 3/5/2024 at 2:25 PM, Goat said:

Private companies are set up to make money. That is capitalism free market. It is not free public transport.

 

 

Nail hit squarely on head.

 

Air travel is not a public good.

 

According to another poster, Thai Airways profit margin is 1.2%, so that  hardly indicates profiteering.

[Georgealbert]

The airlines maybe back in profit, but the passengers seem not to be so happy about the two Bangkok airports.

 

https://thethaiger.com/news/national/bangkok-airports-hit-turbulence-ranked-among-worlds-worst

[Deserted]

It's good news...if you can call it news.

[Mike Lister]

An oversized meme removed

[Korat Kiwi]

23 hours ago, still kicking said:

No, return flight 10th of April 760 AUD or 537 US dollars depends on the day 

That's very interesting as I'm looking at starting work in the mines but can't find any direct flights. 

 

I know Air Asia are starting direct flights come September which will be a godsend. 

 

Can you divulge more info? 

[Rampant Rabbit]

Must be making money by doing this, new  price  $13,424969731.50

Edited March 6 by Rampant Rabbit

[still kicking]

15 hours ago, Korat Kiwi said:

That's very interesting as I'm looking at starting work in the mines but can't find any direct flights. 

 

I know Air Asia are starting direct flights come September which will be a godsend. 

 

Can you divulge more info? 

[Korat Kiwi]

Cheers for that.... Ill see what I can find.