BANGKOK, Feb 25 (NNN-TNA) – Thai Airways International (THAI), reported a nearly triple profit in the final quarter of last year, as foreign arrivals to the country picked up further, data showed yesterday.
According to an annual financial statement, the national flag carrier’s net income for the fourth quarter of 2022, rose to 11.15 billion baht from four billion baht registered a year earlier.
Operating income for the period grew more than fivefold to 8.9 billion baht, from a 2.6 billion- baht-deficit, in the previous year, making the airline’s total revenue soar by 367 percent to 36.9 billion baht, according to the statement, filed with the Thai Stock Exchange (SET).
THAI reported an 84.3 percent decrease in operating loss, excluding one-time items to 4.59 billion baht last year, down from a 29.19 billion-baht-loss in 2021, while total operating revenue in 2022, increased 342 percent to 105 billion baht, the statement said.
After filing for bankruptcy protection in 2020, THAI planned to exit its rehabilitation earlier than scheduled in late 2024, and resume trading on SET in two years, its new chief executive officer said, earlier this month.
Since early this year, THAI started to operate flights to China’s major cities, to meet the rising demand. It is also expected to boost the number of flights, add new routes, and expand its fleet, to achieve its rehabilitation plan. (1 baht equals 0.029 U.S. dollars)– NNN-TNA
