Thai Airways Posts Bt7.34 Bn Net Profit

[george]

Thai Airways posts Bt7.34 bn net profit

BANGKOK: -- National airline, Thai Airways International Plc on Friday reported to the Thai Stock Exchange that it earned Bt7.34 billion in net profit from last year's operations following the Bt21.4 billion loss in 2008.

Thai Airways reported Bt163.9 billion in revenue from 2009 operations.

-- The Nation 2010-02-26

[newsfooter][/newsfooter]

[waza]

Hmmm seems cutting the Ubon route really helped

[Thaihog]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

[plachon]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

I'd tend to agree that there must have been some serious cooking of the books going on to create a profit. Stockholders beware.

[WinnieTheKhwai]

Maybe they sold some stuff? The article doesn't exactly go into a lot of detail on where the profit came from..

[RKASA]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

Off the tax roll with their own books or not Thai is still a government program. Its out of date, does a poor job, and its overpriced. Seems they are doing just as they were designed to do.

edit syntex

Edited February 26, 2010 by RKASA

[SantiSuk]

I'm surprised - new CEO - usually uses the first year end to wash out all the cr_p so he can point to a brilliant turn-around in his first full year. He needs a new Finance Director!

Anybody know where you can get the full accounts on-line? (not yet though). I'd love to run a slide rule over them - something smells of fish!

On the other hand, the biggest profit & loss account expense for an airline must be aircraft depreciation. Thai's fleet was probably fully depreciated in the books in the last century. Accounting profit doth not equal cash!

[connel707]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

I don`t know why anybody would Not want to fly Thai airways, apart from the Hong Kong route which is staffed by Chinese , Thai Airways is head and shoulders above any other airline coming in and out of Thailand... service is good , food is great , and economy is almost as good as business class on similar priced airlines.. obviously this person does not fly very often and does not know what he is talking about....Yawn... some people ...

[Briggsy]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

Seconded.

[rodentwarrior]

I don`t know why anybody would Not want to fly Thai airways, apart from the Hong Kong route which is staffed by Chinese , Thai Airways is head and shoulders above any other airline coming in and out of Thailand... service is good , food is great , and economy is almost as good as business class on similar priced airlines.. obviously this person does not fly very often and does not know what he is talking about....Yawn... some people ...

This must be a joke post - Thai airways is absolute rubbish! Perhaps you are the one who hasn't flown with enough other airlines to make a comparison.

Old aircraft.

Crap food.

Sky waiters who think they are more HiSo than the passengers and have a terrible attitude.

And I have been flying very regularly to Thailand for the last 10 years, with lots of different airlines.

Currently the best - Etihad by a considerable margin. (Business class I should add).

[Sabre]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

Seconded.

Yep. Thirded.

[tigerfish]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

I don`t know why anybody would Not want to fly Thai airways, apart from the Hong Kong route which is staffed by Chinese , Thai Airways is head and shoulders above any other airline coming in and out of Thailand... service is good , food is great , and economy is almost as good as business class on similar priced airlines.. obviously this person does not fly very often and does not know what he is talking about....Yawn... some people ...

your having a laugh arent you! what planet have you been living on for the last 5-10 years?

have you tried flying, etihad, emirates, eva, qatar, gulf air.... head and shoulders above thai airways on every count, and at nearly 2/3-3/4 of the price.

Edited February 26, 2010 by tigerfish

[Hssl]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

I don`t know why anybody would Not want to fly Thai airways, apart from the Hong Kong route which is staffed by Chinese , Thai Airways is head and shoulders above any other airline coming in and out of Thailand... service is good , food is great , and economy is almost as good as business class on similar priced airlines.. obviously this person does not fly very often and does not know what he is talking about....Yawn... some people ...

Thai is decades behind the like of Eithad, Emirates, Gulf, Qatar or EVA, oh and Thai is normally one of the most expensive flights

I know one of their captains of long haul who has moved to Eithad, his reasons better maintained planes, better salary and conditions

[hagler]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

I don`t know why anybody would Not want to fly Thai airways, apart from the Hong Kong route which is staffed by Chinese , Thai Airways is head and shoulders above any other airline coming in and out of Thailand... service is good , food is great , and economy is almost as good as business class on similar priced airlines.. obviously this person does not fly very often and does not know what he is talking about....Yawn... some people ...

hmmm me thinks someone forgot to take their medication today.

IMHO you must be delusional if you think Thai is a decent airline, either that or you have some serious dough invested in them. I have the misfortune to have to fly with them a few times a year and they are a third rate outfit with delusions of granduer. Oh how I yearn for any other airline when I step on board with them.

[tgeezer]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

I don`t know why anybody would Not want to fly Thai airways, apart from the Hong Kong route which is staffed by Chinese , Thai Airways is head and shoulders above any other airline coming in and out of Thailand... service is good , food is great , and economy is almost as good as business class on similar priced airlines.. obviously this person does not fly very often and does not know what he is talking about....Yawn... some people ...

Thai is decades behind the like of Eithad, Emirates, Gulf, Qatar or EVA, oh and Thai is normally one of the most expensive flights

I know one of their captains of long haul who has moved to Eithad, his reasons better maintained planes, better salary and conditions

I think that your friend probably is going for the cash having secured his retirement from Thai, if not he is making a mistake.

The Middle Eastern airlines are cheaper because of the stopover, like Thai, they can't fail, especially Etihad, and similarly they make a profit, in both cases it is an indication of continued government support.

In defense of Thai cabin staff; morale is low because of cut-backs, cabin crew are embarassed when their efforts are not appreciated by management or passengers. It is difficult for crew on Flights to Northern Europe, where it is normal to have some passengers who drink their way in both directions; less a question of the crew acting HiSo as passengers acting LoSo. Passenger levels seem to have been maintained, next year will be the real test, this year could just be the momentum created over a long period of building a good reputation. Comments about Thai like the ones posted here were never so common in the past.

[bkk_mike]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

I don`t know why anybody would Not want to fly Thai airways, apart from the Hong Kong route which is staffed by Chinese , Thai Airways is head and shoulders above any other airline coming in and out of Thailand... service is good , food is great , and economy is almost as good as business class on similar priced airlines.. obviously this person does not fly very often and does not know what he is talking about....Yawn... some people ...

your having a laugh arent you! what planet have you been living on for the last 5-10 years?

have you tried flying, etihad, emirates, eva, qatar, gulf air.... head and shoulders above thai airways on every count, and at nearly 2/3-3/4 of the price.

It might be down to the routes you're flying.

i.e. I've flown Thai to Japan in fairly new airbuses that had IFE in economy and were very good to fly in - right up there with Qatar or Emirates. Maybe he hasn't flown to Europe or Oz on the old 747s we're all complaining about and doesn't know Thai still flies long haul with no IFE in economy on some routes... (admittedly they do have decent legroom, so I'll take Thai over BAs economy any day as the ability to stand up without pain after a flight trumps the ability to watch a choice of movies.)

But I will admit my last few flights to London have been with Qantas, Qatar and Emirates.

[SantiSuk]

Can't understand why they don't put a couple of new big planes on the London route. They get such bad falang press from those awful heaps of junk with their torn and tired seating and their pathetic IFE. They have however reduced their prices this year, so they are much fuller now I believe.

I reckon that the very mixed reviews you get are because somewhere in their route portfolio they must be flying decent planes.

[Spee]

"National airline, Thai Airways International Plc on Friday reported to the Thai Stock Exchange that it earned Bt7.34 billion in net profit from last year's operations following the Bt21.4 billion loss in 2008."

From "zero to hero" in one year??? Not likely.

Sounds like "dot com" accounting to me. Enron, WorldCom, Arthur Andersen, etc.

Or like the Las Vegas casinos in the mob era, where they kept three sets of books, one for the stockholders, one for the IRS .... and the real one.

[mahtin]

(admittedly they do have decent legroom, so I'll take Thai over BAs economy any day as the ability to stand up without pain after a flight trumps the ability to watch a choice of movies.)

seconded

[Ricardo]

Can't understand why they don't put a couple of new big planes on the London route.

I suspect that the new A380s, when delivered over the next few years (2012-2013), will indeed be used on the high-volume routes to Europe & Australia, replacing some of the B747-400s which with hindsight ought to have been upgraded several years ago.

Edited February 28, 2010 by Ricardo

[tigerfish]

Creative accounting no doubt..... only months ago Thai Airways were predicting a gloomy future....

I don't know why anybody would want to fly Thai internationally.... one of the oldest fleets, pathetic in flight entertainment and they are one of the most expensive to fly with, go figure...

I don`t know why anybody would Not want to fly Thai airways, apart from the Hong Kong route which is staffed by Chinese , Thai Airways is head and shoulders above any other airline coming in and out of Thailand... service is good , food is great , and economy is almost as good as business class on similar priced airlines.. obviously this person does not fly very often and does not know what he is talking about....Yawn... some people ...

your having a laugh arent you! what planet have you been living on for the last 5-10 years?

have you tried flying, etihad, emirates, eva, qatar, gulf air.... head and shoulders above thai airways on every count, and at nearly 2/3-3/4 of the price.

It might be down to the routes you're flying.

i.e. I've flown Thai to Japan in fairly new airbuses that had IFE in economy and were very good to fly in - right up there with Qatar or Emirates. Maybe he hasn't flown to Europe or Oz on the old 747s we're all complaining about and doesn't know Thai still flies long haul with no IFE in economy on some routes... (admittedly they do have decent legroom, so I'll take Thai over BAs economy any day as the ability to stand up without pain after a flight trumps the ability to watch a choice of movies.)

But I will admit my last few flights to London have been with Qantas, Qatar and Emirates.

i thought ba were in conjunction with qantas regarding flights to london from bangkok. first and last time i flew qantas back to the u.k. it was crap. night flight same old story sit you, feed you and then bugger off to the back of the plane to have a good old natter. sod anyone who doesnt want to sleep and would rather watch the IFE and have a drink after his meal. must of pressed the steward call button at least ten times before i got a responce an hour later.

didnt help when about to land, the faggy steward came round and pronouned welcome to london folks, business as usual 5 degrees outside and raining.

trick to bear in mind when it comes to the issue over leg room. when booking the flight, ask the the agent to put a request in with the airline for an emergency exit seat. then get on the phone yourself to the airline and ask them not to pre-allowcate you a seat and make the same request. get to the airport well before the required 4 hour check. you will find that even if they havent opened up the particular check-in desks for your flight, they will still allow you to do so via any other desk. when at the desk just point out to the member of saff that you have already requested with the airline an emergency exit seat. he/she will have a quick look on the computer and theres usually no problem. if so just kick up a stink and ask talk to a senoir member of staff. on one occasion they even upgraded me to first class on the second leg of the flight out of dubai with emirates airlines, because they didnt have anymore emergency exit seats.

one thing you have to keep in mind though, is that you have to be an ablely bodied person. in the case of an emergengy.