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THAI’s latest losses increase pressure on carrier to deliver rescue plan
February 25th 2021
Thai Airways International (THAI) has reported a net loss of 141.2 billion baht (US$4.7 billion) for the 12 months to December 31, 2020, a deterioration from a net loss of 12 billion baht in in the same months a year ago. Read More » Operating revenue collapsed by 74%, to 48.3 billion baht, THAI said in a regulatory filing to the Stock Exchange of Thailand yesterday. The airline’s 5.9 million passengers in calendar 2020 were down 76% from 24.5 million a year earlier. THAI is expected to present its rescue plan to authorities next month. “The planners are in process of preparing the rehabilitation plan that it expects to propose to the Official Receiver by March 2, 2021," THAI said. The airline is going through a business rehabilitation plan with the country's Central Bankruptcy Court.
