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Thai Airways International moved into profit in fiscal 2023
February 26th 2024
Thai Airways International (THAI) has reported a net profit of 28.1 billion baht (US$781 million) for the 12 months to December 31 compared with a net loss of 272.2 million baht in the previous year. Read More » Revenue climbed 53.3%, to 161.1 billion baht, THAI said in a regulatory filing. The 2023 financial results included several one-off gains from the sale of assets and the impact of a debt restructuring program at the flag carrier. The company said its improved financial performance was a result of the recovery in aviation and tourism and significantly rising passenger demand. “THAI plans to expand its fleet and capacity to meet travel demand with the delivery of three new A350-900s in the first quarter of 2024,” the airline said. “Moreover, there is a plan to retrofit the cabins of [our] A320-200s with new Royal Silk reclining seats in 2024.”
