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Thai Airways International reports US$9 million quarterly profit
August 13th 2024
Thai Airways International (THAI) said net profit in the three months to June 30 was 86.5% lower, at 306 million baht (US$9 million), from a profit of 2.3 billion baht in the same months in 2023. Read More » The results were impacted by several one-off items, it said, but pointed out in a regulatory filing that operating revenue rose 17.7%, to 44 billion baht. “In the second quarter of 2024, the global aviation industry recorded a continuous recovery, driven by increasing demand for international passenger travel,” THAI said in its financial accounts. “The Asia-Pacific is experiencing the biggest growth.” THAI expects to finalise a capital restructuring, critical to its business rehabilitation plan involving a debt-to-equity conversion, by year-end.
