Transport Thai Airways Q1 Profits Soar by 306% as Exit from Rehabilitation Nears

[Georgealbert]

 

Picture courtesy of Khaosod.

 

Thai Airways has posted a remarkable turnaround in its financial performance for the first quarter of 2025, recording net profits of nearly $300 million, a 306% increase year-on-year, with total revenues reaching $1.56 billion (51.6 billion baht). The airline now stands on the brink of exiting its court-supervised business rehabilitation, with a key ruling expected on 4 June.

 

Piyasvasti Amranand, Chairman of the Business Rehabilitation Plan Administration Committee for Thai Airways International (THAI), presented the Q1 results on 8 May. The airline’s impressive growth was attributed to increased global demand for air travel, an expanded fleet, and higher flight frequencies.

 

Passenger numbers rose 11.6% from the previous year to 4.33 million, with Available Seat Kilometres (ASK) and Revenue Passenger Kilometres (RPK) up 21.1% and 20.8% respectively, underlining strong operational momentum.

 

Piyasvasti announced that the airline will grow its fleet from 77 to 81 aircraft in 2025, with deliveries including one Airbus A330, one Boeing 787-9, and two Airbus A321neos. A further 15 aircraft are scheduled for delivery in 2026.

 

“These aircraft will feature seat-back entertainment and complimentary Wi-Fi for all Royal Orchid Plus members, regardless of status. The first deliveries are expected by year-end,” he stated.

 

The airline is also retrofitting its Airbus A330-300s with high-speed internet. Two aircraft are already operational, offering free messaging services, with full Wi-Fi access rolling out for frequent flyers in May.

 

Following an Extraordinary General Meeting of Shareholders on 18 April and official registration of a new board of directors, Thai Airways has fulfilled the final requirements of its court-approved rehabilitation plan. A formal petition to end the process was submitted to the Central Bankruptcy Court on 28 April.

 

The court will hear the case on 4 June. If successful, control of the company will pass from the Rehabilitation Plan Administration Committee to the newly appointed board. The airline will then begin proceedings to resume trading on the Stock Exchange of Thailand in the third quarter.

 

“Resuming trade presents its own challenges, particularly in volatile financial markets. But we believe our recovery, operational discipline, and governance will instil confidence among investors,” said Piyasvasti.

 

Piyasvasti also confirmed that Thai Smile Airways has been officially dissolved, with all of its Airbus A320 aircraft transferred to Thai Airways. Thai Smile ceased operations on 1 January 2024.

 

Looking ahead, he noted that while May and June represent the aviation industry’s traditional low season, advance bookings remain strong. The Australian market is also showing clear signs of recovery, expected to strengthen further during the July–August period, coinciding with peak travel demand from Europe.

 

This momentum, he added, is likely to support continued revenue growth through the second half of 2025.

 

 

  Adapted by Asean Now from Khaosod 2025-05-11.

 

 

 

[JoePai]

Thai Airways has posted a remarkable turnaround

 

Agreed a rather too remarkable turnaround ??

[blaze master]

4 hours ago, Georgealbert said:

expected to strengthen further during the July–August period, coinciding with peak travel demand from Europe.

 

What ?

[hotsun]

They would really do well to offer direct flights to los angeles