File photo for reference only

 

Thai Airways (THAI) reported a 64.6% decline in Q3 net profit from the previous year. The significant drop is attributed to the absence of prior exceptional income, including foreign-exchange gains. Total revenue for THAI and its subsidiaries was 44.40 billion baht, a 3.1% decrease due to competitive pricing and the stronger baht.

 

Earlier in 2025, THAI experienced a positive financial trend, achieving a net profit of 26.39 billion baht over the first nine months, up 73.4% from the previous year. EBITDA also rose by 13% to 43.30 billion baht, benefiting from a 3.7% revenue increase and ongoing cost optimisation efforts. The airline's return on assets improved to 8.91% from 6.06%.

 

Passenger revenue fell by 3.8%, and cargo income dropped by 5.9% in Q3 due to the stronger baht and increased competition. Nevertheless, THAI reduced total expenses by 7.2%, largely from a 15.1% cut in fuel costs, helped by an 8.4% decrease in fuel prices and the stronger baht against the US dollar. The airline's EBITDA grew by 13.4% to 12.41 billion baht, with an operating profit before finance costs rising by 19% to 8.56 billion baht.

 

Operationally, passenger load factor rose to 76.8%, and revenue passenger kilometers increased by 4%. The airline resumed European routes, including Brussels from December 1, 2024, and increased frequency on high-demand routes like Shanghai and Denpasar. On August 4, 2025, THAI returned to the Stock Exchange of Thailand, post-rehabilitation approval by the Central Bankruptcy Court.

 

Looking forward, THAI plans to further expand its network and fleet. The carrier took delivery of one Airbus A330-300, bringing its total fleet size to 78 aircraft as of September 2025. Partnerships in digital innovation with Thai Samsung Electronics and an MOU with AAR Component Services (Thailand) signify strategic advancements. THAI also invested 10.57 billion baht in aircraft expenditures, including converting lease contracts to purchases for four Boeing 777-300ERs, reducing long-term liabilities, reported The Nation.

 

Key Takeaways

• THAI's Q3 net profit decreased by 64.6% due to absent one-off gains.
• Passenger and cargo revenues declined amid a stronger baht and competition.
• Cost control led to a 19% rise in operating profit before finance costs.

 

Related Links:

Thai Airways Turns Virgin Lie-Flats into Premium Economy Plus

Thai Airways Ditches First Class in Major Cabin Overhaul

 

  Adapted by ASEAN Now from The Nation 2025-11-14

 

 

I always flew Thai to Australia...no longer! Other airlines off a better service today.

5 hours ago, ChrisY1 said:

I always flew Thai to Australia...no longer! Other airlines off a better service today.

Never had a problem with THAI's service, with meals being reasonable and drinks available if and when you want them. I live in Melbourne and the only other diect flight is with Jetstar which is a woeful airline for service. I would consider Singapore airlines as a once off to see the airport there, but THAI is the only realistic option for me.

For me Emirates wins every time BKK to SYD

THAI heading towards bancruptcy again?

They're as bad as TAT. Up and down more often than a Macy's elevator. 

Thai fare pricing is really off… I take regular flights across Asia pacific and Thai flight tickets are sometimes more than 20 percent more than its competitors in the same sector… crazy… 

then there is the shortchanged - on certain flights they operate between Singapore to Bangkok, the flight comes without inflight entertainment and it’s like a budget airline …when you pay for a full flight …. 
Next comes the Thai royal orchid plus… it’s so badly managed that you will never get upgrades or hit gold class despite even flying every month …. So this does not create any loyalty at all to flyers like me …. 

What about those 80 Boeing on order  

1 hour ago, GreasyFingers said:

What about those 80 Boeing on order  

 

To be cancelled - like Trump's negotiated joint peace agreement with Cambodia?

4 hours ago, NemoH said:

Thai fare pricing is really off… I take regular flights across Asia pacific and Thai flight tickets are sometimes more than 20 percent more than its competitors in the same sector… crazy… 

then there is the shortchanged - on certain flights they operate between Singapore to Bangkok, the flight comes without inflight entertainment and it’s like a budget airline …when you pay for a full flight …. 
Next comes the Thai royal orchid plus… it’s so badly managed that you will never get upgrades or hit gold

You are absolutely 100% correct, I have had my FFC for 20 years yet despite frequent flights both internationally and domestic I am still at silver, I visited the head office in Bangkok to discuss this with them and got blanked and a tough s - - t attitude. Proven LOYALTY to them even during bankrupcy  still did not move them and as for some semblance of the promised PRIORITY it to is also non  existent, so I have given up with this bunch of num nuts and taken my business elsewhere, if they have their noses so far up themselves they deserve everything they get including a lasting bankrupcy this time to be replaced by a team with at least some business acumen.

Who still flies with Thai Airways ? Far to costly compared to other airlines. 

2 months ago I flew business class to china. The seat wouldn't move. I complained and the guy filled out a form before I departed the plane on arrival. They offered me a pathetic refund. Crappy planes....

2 hours ago, Burma Bill said:

 

To be cancelled - like Trump's negotiated joint peace agreement with Cambodia?

 

Why ?

14 hours ago, ChrisY1 said:

I always flew Thai to Australia...no longer! Other airlines off a better service today.

Tell me one who flies from Perth to BKK, don't mention Jet-Star 

8 hours ago, Grumpy one said:

For me Emirates wins every time BKK to SYD

Well they don't do it anymore. 

They only codeshare with Finn Air I believe.

Must admit that THAI regional service is pretty bad now. Their signature used to be their good food. Now it's lousy. Planes are dirty, loos aren't replenished with toilteries like soap or even tissue. Maybe longhaul is still okay, dunno. But I'll be looking for regional alternatives now (so that means anywhere in Asia). Having said that, the flights are always packed. So not sure why they're losing money.

...What A Perverse Saga... (?)

 

...No Other Remotely Similar 'Real-World' Examples Come To Mind... (?)

22 hours ago, ChrisY1 said:

I always flew Thai to Australia...no longer! Other airlines off a better service today.

And cheaper! I'm paying $300 more since covid to fly Thai from Perth

5 minutes ago, barmatt said:

And cheaper! I'm paying $300 more since covid to fly Thai from Perth

Mate paid 20k bht yesterday, one way to Melbourne, well up on last year I.m sure

8 hours ago, ronnie50 said:

Must admit that THAI regional service is pretty bad now. Their signature used to be their good food. Now it's lousy. Planes are dirty, loos aren't replenished with toilteries like soap or even tissue. Maybe longhaul is still okay, dunno. But I'll be looking for regional alternatives now (so that means anywhere in Asia). Having said that, the flights are always packed. So not sure why they're losing money.

Food on 1hr flights, wow, sad for you! 🫠

3 minutes ago, Olmate said:

Mate paid 20k bht yesterday, one way to Melbourne, well up on last year I.m sure

Thats nuts for one way

5 minutes ago, barmatt said:

Thats nuts for one way

 

Just now, Olmate said:

 

Airport fees +5kbht 🫠

There's a whole lotta cryin' by a whole lotta once-a-year or some time last century 'frequent flyers' going on here. One dirty toilet on one flight means ALL toilets on ALL flights are dirty, one non-reclining seat on one flight means ALL seats on ALL flights are broken, etc..

 

As for loyalty and points, most international airlines have significantly downgraded their frequent flier programs of awards and rewards, unless you are a consistent business class (or higher) passenger. That's where they make profits. You lot gurning back in steerage about your cold pad thai or the shabby seat coverings just carry on sucking it up. And thanks for making up the numbers.

9 hours ago, still kicking said:

Tell me one who flies from Perth to BKK, don't mention Jet-Star 

Singapore but not direct. Flew with them while Thai wasn't. Better food and cheaper

I live in the North of England if I want to fly with Thai Airways its a 2-3 hour train journey with a hefty ticket price for a return ticket to london. Once you negotiate the Tube with your case. Wht don't Thai look at flying from Manchester.

11 hours ago, Olmate said:

Food on 1hr flights, wow, sad for you! 🫠

7 hour flight from Japan to BKK

11 hours ago, Olmate said:

Mate paid 20k bht yesterday, one way to Melbourne, well up on last year I.m sure

 

I did melbourne return in October... was 58k

3 hours ago, BarraMarra said:

I live in the North of England if I want to fly with Thai Airways its a 2-3 hour train journey with a hefty ticket price for a return ticket to london. Once you negotiate the Tube with your case. Wht don't Thai look at flying from Manchester.

 

Would this be easier and much cheaper - direct from Manchester to Heathrow for THAI flights? It would certainly avoid the London tube section with its crowds, escalators and packed carriages. The journey time is around 6 hours or less direct.

 

A National Express fare from Manchester to Heathrow Airport starts at around £11.40 for a one-way ticket when booked in advance, though prices can vary. The cost can be higher for last-minute bookings or return trips, and it's always best to check the official National Express website for the most accurate pricing based on your specific travel date. (Google) 

 

Thai Airways is too expensive with poor service, not like it used to be... simply better options.