webfact Posted March 2, 2013 Share Posted March 2, 2013 Impressive Bt6.5 billion net profit for Thai Airways InternationalBy English NewsBANGKOK, March 2 – Thai Airways International (THAI), Thailand’s national flag carrier, today announced a net profit of over Bt6 billion for last year’s operations – a sharp turnaround from 2011 when the company suffered a Bt10.2 billion loss.THAI Board of Directors president Ampon Kitti-ampon said the airline's net profit last year was Bt6.23 billion while the combined profit of the flag carrier and its subsidiaries, Nok Air and Thai Smile, reached Bt6.51 billion.He said the international aviation business overall had improved last year despite a global economic slowdown and tough competition, domestically and internationally.THAI’s operations were severely affected by the massive floods in late 2011, compelling it to adversely adjust its marketing strategy by offering tickets at lower prices to stimulate passengers to fly with THAI, Mr Ampon said.He said the national airline boosted its competitive edge last year with ownership of more shares at Nok Air and launching a new budget airline, Thai Smile, to expand and strengthen the corporation’s aviation network while flight schedules had been seasonally adjusted.The airline made an impressive passenger load factor (PLF) in 2012 – the highest in five years – at an average utilisation of 76.6 per cent, representing an increase from 70.4 per cent in the preceding year. PLF is a measure to calculate the average occupancy on various routes of an airline.Of THAI’s Bt213.53 billion revenue last year, Bt8.248 billion was from Nok Air’s operations, Bt1.584 billion from profit in purchasing the Nok Air business, and Bt10.042 billion from operating revenue.THAI, a listed company in Thailand’s stock exchange, reported total assets of Bt304.096 billion as of Dec 31, an increase by Bt30.14 billion from 2011, and liabilities at Bt234.278 billion, an increase by Bt23.269 billion.Mr Ampon said THAI’s operating performance in January was satisfactory with 1.89 million passengers, an increase of 0.14 million passengers, or 8.1 per cent, from January 2011.The Board of Directors approved the management’s proposal to recruit a new batch of 247 flight attendants this year. (MCOT online news)-- TNA 2013-03-02 Link to comment Share on other sites More sharing options...
Payboy Posted March 2, 2013 Share Posted March 2, 2013 THAI Board of Directors president Ampon Kitti-ampon Dude, where's my dividend. 1 Link to comment Share on other sites More sharing options...
jamhar Posted March 2, 2013 Share Posted March 2, 2013 Wow, is that a DC10 in the pic? If they are still flying those things, they are getting every penny out of their assets! lol 2 Link to comment Share on other sites More sharing options...
dxthai Posted March 2, 2013 Share Posted March 2, 2013 Wow, is that a DC10 in the pic? If they are still flying those things, they are getting every penny out of their assets! lol MD-11 Link to comment Share on other sites More sharing options...
tolsti Posted March 2, 2013 Share Posted March 2, 2013 Wow, is that a DC10 in the pic? If they are still flying those things, they are getting every penny out of their assets! lol MD-11 Not listed in their fleet anymore...got rid of them to UPS in 2006. Link to comment Share on other sites More sharing options...
Plastic Brontosaurus Posted March 2, 2013 Share Posted March 2, 2013 This is a seriously old picture - MD11 HS-TMD was sold to UPS in 2006 and converted to a freighter... In the 1970's they also had a DC10 with the same registration but that was sold to SAS in 1987 and ended its days with Northwest and was broken up in 2006. The example in the photo is still flying. However Thai does not fly any MD11's any more these days (and neither DC10's - but then DC10's are quite rare in this day and age anyway). http://www.airfleets.net/ficheapp/plane-md11-48416.htm Link to comment Share on other sites More sharing options...
tomross46 Posted March 2, 2013 Share Posted March 2, 2013 Creative accounting. How many books do they have? 2 Link to comment Share on other sites More sharing options...
Popular Post geriatrickid Posted March 2, 2013 Popular Post Share Posted March 2, 2013 Creative accounting. How many books do they have? No, sorry. It is called a change in leadership. All those "experts" that said the removal of the former chief executive, the chief executive that presided over the airline when it posted some of the worst losses recorded, would result in doom and gloom. Well, it looks like the frothers have once again been proven wrong. The Thai board acted appropriately when it appointed a new chief executive. 3 Link to comment Share on other sites More sharing options...
ginjag Posted March 2, 2013 Share Posted March 2, 2013 Wow, is that a DC10 in the pic? If they are still flying those things, they are getting every penny out of their assets! lol MD-11 Not listed in their fleet anymore...got rid of them to UPS in 2006. So the MD 11, became so ancient they had to go, BUT what was their replacement ??? before and after 2006 long haul aircraft were and still are the old Jumbos, -------- 2013, A380, leased 777s, still high prices, everyone I know are saying o.k. but where are the many new aircraft that are to replace the aged Euopean Jumbos, Use your profit and buy MORE NEW planes, not give it to Board/vip free-bies. There are planes out there to buy for long haul-NEW no excuse to keep saying you are waiting for deliveries. Link to comment Share on other sites More sharing options...
Popular Post waza Posted March 2, 2013 Popular Post Share Posted March 2, 2013 (edited) Creative accounting. How many books do they have? No, sorry. It is called a change in leadership. All those "experts" that said the removal of the former chief executive, the chief executive that presided over the airline when it posted some of the worst losses recorded, would result in doom and gloom. Well, it looks like the frothers have once again been proven wrong. The Thai board acted appropriately when it appointed a new chief executive. Your a funny man GK, do you ever get tired of talking rubbish?......... Mr. Sorajak Kasemsuvan President of Thai Airways International Public Company Limited (THAI) Joined THAI since October 9, 2012. and he only did it in 4 months...... While...........“I just want the board to explain the reason,” Chief Executive Officer Piyasvasti Amranand said at a media briefing yesterday. “It’s ambiguous. The performance of the company during my term has improved in every aspect and I passed the evaluation at 86 percent”......Piyasvasti oversaw a fleet modernization and cost cuts in 2009 that helped Thai Air rebound from its largest ever loss the year before to a record profit in 2010. http://www.bloomberg.com/news/2012-05-21/fired-thai-air-ceo-blames-politics-over-business-southeast-asia.html Its called taking credit for another mans hard work. Edited March 2, 2013 by waza 7 Link to comment Share on other sites More sharing options...
ExpatOilWorker Posted March 2, 2013 Share Posted March 2, 2013 Nice profit, maybe Thai Airways want to buy some rice? Link to comment Share on other sites More sharing options...
Skywalker69 Posted March 2, 2013 Share Posted March 2, 2013 Wow, is that a DC10 in the pic? If they are still flying those things, they are getting every penny out of their assets! lol It´s an old photo of an MD 11. "Thai Airways were a long time DC10 operator when they ordered 4 GE powered MD11's to replace them in December 1986. They were one of the launch customers for the MD11. The first, HS-TMD was delivered in June 1991 a few days after a follow up order of 3 more MD11's was made. Later however, the airline decided against an expansion programme and the additional 3 aircraft were never built. MD11 service started in July 1991 from Bangkok to Los Angeles. Over the years the MD11's operated to destinations in Asia, USA, Australia, New Zealand and Europe including Zurich and Rome. They also served Moscow for a short time in 2005/2006. 2 of the 4 were repainted in 2005 into Thai's stunning new livery (TMD and TME). Thai announced in 2005 that the MD11's would be sold after retirement in March 2006 to the highest bidder. An American Leasing company bought them and leased them to UPS after freighter conversion. HS-TMD cn 48416/466 06/91-03/06, converted to freighter, to UPS as N258UP. HS-TME cn 48417/467 07/91-03/06, converted to freighter, to UPS as N259UP. HS-TMF cn 48418/501 07/92-03/06, converted to freighter, to UPS as N260UP. HS-TMG cn 48451/505 07/92-03/06, converted to freighter, to UPS as N257UP. http://md-eleven.net/MD11-Operators-Historical-M-Z 1 Link to comment Share on other sites More sharing options...
NanLaew Posted March 2, 2013 Share Posted March 2, 2013 (edited) Airplane anoraks! Gotta love 'em!! Commenting on any Thai airline management and accounting would be fundamentally superfluous IMHO. Edited March 2, 2013 by NanLaew 1 Link to comment Share on other sites More sharing options...
goatfarmer Posted March 2, 2013 Share Posted March 2, 2013 THAI Board of Directors president Ampon Kitti-ampon Dude, where's my dividend. Looks like you'll get 0.5 baht per share in May if you're holding on 13th March. THAI dividends are erratic, which makes this company a speculative play at best. Link to comment Share on other sites More sharing options...
Payboy Posted March 2, 2013 Share Posted March 2, 2013 THAI Board of Directors president Ampon Kitti-ampon Dude, where's my dividend. Looks like you'll get 0.5 baht per share in May if you're holding on 13th March. THAI dividends are erratic, which makes this company a speculative play at best. Shit, I was hoping for more than a baht per, like in 2011. Link to comment Share on other sites More sharing options...
Marlow999 Posted March 2, 2013 Share Posted March 2, 2013 Wow, is that a DC10 in the pic? If they are still flying those things, they are getting every penny out of their assets! lol It´s an old photo of an MD 11. "Thai Airways were a long time DC10 operator when they ordered 4 GE powered MD11's to replace them in December 1986. They were one of the launch customers for the MD11. The first, HS-TMD was delivered in June 1991 a few days after a follow up order of 3 more MD11's was made. Later however, the airline decided against an expansion programme and the additional 3 aircraft were never built. MD11 service started in July 1991 from Bangkok to Los Angeles. Over the years the MD11's operated to destinations in Asia, USA, Australia, New Zealand and Europe including Zurich and Rome. They also served Moscow for a short time in 2005/2006. 2 of the 4 were repainted in 2005 into Thai's stunning new livery (TMD and TME). Thai announced in 2005 that the MD11's would be sold after retirement in March 2006 to the highest bidder. An American Leasing company bought them and leased them to UPS after freighter conversion. HS-TMD cn 48416/466 06/91-03/06, converted to freighter, to UPS as N258UP. HS-TME cn 48417/467 07/91-03/06, converted to freighter, to UPS as N259UP. HS-TMF cn 48418/501 07/92-03/06, converted to freighter, to UPS as N260UP. HS-TMG cn 48451/505 07/92-03/06, converted to freighter, to UPS as N257UP. http://md-eleven.net/MD11-Operators-Historical-M-Z Fascinating. 1 Link to comment Share on other sites More sharing options...
nevets Posted March 2, 2013 Share Posted March 2, 2013 New merc's all round then and gold for the wifes Link to comment Share on other sites More sharing options...
lubbkis Posted March 2, 2013 Share Posted March 2, 2013 Wow, is that a DC10 in the pic? If they are still flying those things, they are getting every penny out of their assets! lol Indeed. Last time I was codeshared onto them they rolled out an ageing 747 instead of the promised rather newer A340, refused to honour my points for an upgrade, showed a documentary about a US railway station (like that would interest passengers between Europe and Asia). Frankly, they will have to get their act back together before I will select them to fly again. OK, so they are fixing the books. The books will go wrong again if they don't fix the service. Link to comment Share on other sites More sharing options...
Geratul Posted March 2, 2013 Share Posted March 2, 2013 It's not to see in my bonus... what they said? we earn less... but after paying the low bonus they come with this net profit. Talking about a corrupt company. For sure the rest goes to the board of directors instead of the hard working staff. Link to comment Share on other sites More sharing options...
tolsti Posted March 2, 2013 Share Posted March 2, 2013 Airplane anoraks! Gotta love 'em!! Commenting on any Thai airline management and accounting would be fundamentally superfluous IMHO. I resemble that remark !! 1 Link to comment Share on other sites More sharing options...
Huayrat Posted March 2, 2013 Share Posted March 2, 2013 One thing you should never ever do is believe anything that is said in Thailand.. 1 Link to comment Share on other sites More sharing options...
huanga Posted March 2, 2013 Share Posted March 2, 2013 Quote: 4Q12 earnings summary. THAI reported a 2012 net profit of Bt6.2bn, beating our andmarket estimates by 35% mainly on 3 extra items, 1) the reversion of a disputeof Bt167mn, 2) a penalty gain from delayed aircraft delivery of Bt649mn and 3) Gainson assets transferred as consideration in the Nok Air transaction ofBt1.58bn, as THAI acquired more Nok Air shares (from 39% to 49%) last year withthe fair value being higher than the cost. When excluding these extra items andF/X gains of Bt3.2bn, the THAI norm profit was only Bt615mn. With total revenueincreasing by 9% YoY, higher than operational expenses, increasing 4% YoY, highinterest expenses of Bt5.8bn (+3% YoY) and other net expenses of Bt2bn, were stillkey pressures in 2012. In 4Q12, staff expenses increased almost Bt2bn from3Q12, resulting in an operational loss of Bt758mn, despite the high travelseason. So let's not get ahead of ourselves. The actual profit from core operation was only 615 million, and rest from extra items. I think ROE is less than 9% and ROA less than 2%. With these figures, it's still not an attractive stock, given its volatility, even with rosy days ahead. But then again, it's my 2 cents. 2 Link to comment Share on other sites More sharing options...
Thai at Heart Posted March 2, 2013 Share Posted March 2, 2013 THAI Board of Directors president Ampon Kitti-ampon Dude, where's my dividend. Looks like you'll get 0.5 baht per share in May if you're holding on 13th March. THAI dividends are erratic, which makes this company a speculative play at best. Very diplomatically put Link to comment Share on other sites More sharing options...
dcutman Posted March 2, 2013 Share Posted March 2, 2013 Creative accounting. How many books do they have? No, sorry. It is called a change in leadership. All those "experts" that said the removal of the former chief executive, the chief executive that presided over the airline when it posted some of the worst losses recorded, would result in doom and gloom. Well, it looks like the frothers have once again been proven wrong. The Thai board acted appropriately when it appointed a new chief executive. Your a funny man GK, do you ever get tired of talking rubbish?......... Mr. Sorajak Kasemsuvan President of Thai Airways International Public Company Limited (THAI) Joined THAI since October 9, 2012. and he only did it in 4 months...... While...........“I just want the board to explain the reason,” Chief Executive Officer Piyasvasti Amranand said at a media briefing yesterday. “It’s ambiguous. The performance of the company during my term has improved in every aspect and I passed the evaluation at 86 percent”......Piyasvasti oversaw a fleet modernization and cost cuts in 2009 that helped Thai Air rebound from its largest ever loss the year before to a record profit in 2010. http://www.bloomberg.com/news/2012-05-21/fired-thai-air-ceo-blames-politics-over-business-southeast-asia.html Its called taking credit for another mans hard work. GK's internet must have crashed, no response. Link to comment Share on other sites More sharing options...
surangw Posted March 2, 2013 Share Posted March 2, 2013 how much is left after tea money payoffs? Link to comment Share on other sites More sharing options...
Payboy Posted March 2, 2013 Share Posted March 2, 2013 how much is left after tea money payoffs? The peanut profits are all that's left after tea money pay offs. 1 Link to comment Share on other sites More sharing options...
geriatrickid Posted March 2, 2013 Share Posted March 2, 2013 Creative accounting. How many books do they have? No, sorry. It is called a change in leadership. All those "experts" that said the removal of the former chief executive, the chief executive that presided over the airline when it posted some of the worst losses recorded, would result in doom and gloom. Well, it looks like the frothers have once again been proven wrong. The Thai board acted appropriately when it appointed a new chief executive. Your a funny man GK, do you ever get tired of talking rubbish?......... Mr. Sorajak Kasemsuvan President of Thai Airways International Public Company Limited (THAI) Joined THAI since October 9, 2012. and he only did it in 4 months...... While...........“I just want the board to explain the reason,” Chief Executive Officer Piyasvasti Amranand said at a media briefing yesterday. “It’s ambiguous. The performance of the company during my term has improved in every aspect and I passed the evaluation at 86 percent”......Piyasvasti oversaw a fleet modernization and cost cuts in 2009 that helped Thai Air rebound from its largest ever loss the year before to a record profit in 2010. http://www.bloomberg.com/news/2012-05-21/fired-thai-air-ceo-blames-politics-over-business-southeast-asia.html Its called taking credit for another mans hard work. I disagree. One of the reasons for the change was the deteriorating results and the trend to even bigger losses. The board acted to reverse some of the decisions subsequent to the sacking. The board also appointed a new chief executive, Had the board of the airlines not intervened when it did, the results would not be as robust as they are now. Why is it so hard to acknowledge that the board did its job? Link to comment Share on other sites More sharing options...
waza Posted March 2, 2013 Share Posted March 2, 2013 (edited) Creative accounting. How many books do they have? No, sorry. It is called a change in leadership. All those "experts" that said the removal of the former chief executive, the chief executive that presided over the airline when it posted some of the worst losses recorded, would result in doom and gloom. Well, it looks like the frothers have once again been proven wrong. The Thai board acted appropriately when it appointed a new chief executive. Your a funny man GK, do you ever get tired of talking rubbish?......... Mr. Sorajak Kasemsuvan President of Thai Airways International Public Company Limited (THAI) Joined THAI since October 9, 2012. and he only did it in 4 months...... While...........“I just want the board to explain the reason,” Chief Executive Officer Piyasvasti Amranand said at a media briefing yesterday. “It’s ambiguous. The performance of the company during my term has improved in every aspect and I passed the evaluation at 86 percent”......Piyasvasti oversaw a fleet modernization and cost cuts in 2009 that helped Thai Air rebound from its largest ever loss the year before to a record profit in 2010. http://www.bloomberg.com/news/2012-05-21/fired-thai-air-ceo-blames-politics-over-business-southeast-asia.html Its called taking credit for another mans hard work. I disagree. One of the reasons for the change was the deteriorating results and the trend to even bigger losses. The board acted to reverse some of the decisions subsequent to the sacking. The board also appointed a new chief executive, Had the board of the airlines not intervened when it did, the results would not be as robust as they are now. Why is it so hard to acknowledge that the board did its job? I guess because unlike you I live in the real world not some aeolist's red fantasy land. It is extreme egregious conduct for Sorajak Kasemsuvan to take credit for any results after 4 months in the position. The same goes for the board decision to replace Piyasvasti Amranand. Edited March 2, 2013 by waza Link to comment Share on other sites More sharing options...
dcutman Posted March 2, 2013 Share Posted March 2, 2013 Creative accounting. How many books do they have? No, sorry. It is called a change in leadership. All those "experts" that said the removal of the former chief executive, the chief executive that presided over the airline when it posted some of the worst losses recorded, would result in doom and gloom. Well, it looks like the frothers have once again been proven wrong. The Thai board acted appropriately when it appointed a new chief executive. Your a funny man GK, do you ever get tired of talking rubbish?......... Mr. Sorajak Kasemsuvan President of Thai Airways International Public Company Limited (THAI) Joined THAI since October 9, 2012. and he only did it in 4 months...... While...........“I just want the board to explain the reason,” Chief Executive Officer Piyasvasti Amranand said at a media briefing yesterday. “It’s ambiguous. The performance of the company during my term has improved in every aspect and I passed the evaluation at 86 percent”......Piyasvasti oversaw a fleet modernization and cost cuts in 2009 that helped Thai Air rebound from its largest ever loss the year before to a record profit in 2010. http://www.bloomberg.com/news/2012-05-21/fired-thai-air-ceo-blames-politics-over-business-southeast-asia.html Its called taking credit for another mans hard work. I disagree. One of the reasons for the change was the deteriorating results and the trend to even bigger losses. The board acted to reverse some of the decisions subsequent to the sacking. The board also appointed a new chief executive, Had the board of the airlines not intervened when it did, the results would not be as robust as they are now. Why is it so hard to acknowledge that the board did its job? So it didnt have anything to do with politics then GK.? ‘So Strange’“The reasons that the board gave, that I have communication problems and differences of opinion with the board, are so strange,” said Piyasvasti, a former energy minister. “I am not that surprised, because the current political environment is like this.” Piyasvasti’s removal comes a month after state-controlled PTT Exploration & Production Pcl (PTTEP) replaced its CEO amid a management reshuffle at parent company PTT Pcl. (PTT) Both Thai Air and PTT are 51 percent-owned by Thailand’s Ministry of Finance. I love you are so quick to disagree, with with nothing to show how you come to your conclusions. Link to comment Share on other sites More sharing options...
vijer Posted March 2, 2013 Share Posted March 2, 2013 I've only flown them domestically, internationally they have always been over priced. Can't complain about the planes I few on, seemed in good shape, but agan thoses were domestic flights. 1 Link to comment Share on other sites More sharing options...
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