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Sunday, November 27, 2022

THAI Airways’ financial recovery could be faster than expected

Thai Airways International said the compagnie may exit financial rehab and resume trading sooner than expected.
Mr.Chai Eamsiri, chief of finance and accounting of Thai Airways, says that committed expense cuts and measures to rationalize operations and financial performance will increase income. With this trend, the airline may be able to resolve the suspension of its operations with the Stock Exchange of Thailand (SET) before the 2025 expiration date.

As a consequence of the softening of travel restrictions rules, the airline’s operating losses dropped from 6.9 billion baht last year to 3.1 billion baht for the same period in the first quarter of this year.

The finance chief added that the compagnie is working to raise a new fund as part of the ongoing restructuring program. Thai Airways will also sell assets worth about 2 billion baht to concentrate on selling tickets online.

The International Air Transport Association (IATA), meanwhile, has revised the airline industry’s financial performance for 2022. The losses of the sector should fall to ‘only’ 9.7 billion dollars, against an initial forecast of 11.6 billion. In its review, the association pointed to increasing travel demand, a tendency it sees continuing as more and more countries move to ease health restrictions related to COVID 19.

frederic
Author: frederic

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