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Thai Airways announces US$332.6 million interim profit
August 17th 2021
Thai Airways International (THAI) returned a net profit of 11.1 billion baht (US$332.6 million) for the six months to June 30, from a net loss of 28 billion baht in the same six months in 2020. Read More » Revenue tumbled 48.5%, to 21 billion baht, THAI said in a regulatory filing to the Stock Exchange of Thailand. Costs were reduced by 88.6% to 6.7 billion baht. In mid-2020, THAI commenced a business rehabilitation plan approved by the country's Central Bankruptcy Court. Its flight operations remain largely suspended, with domestic restrictions in place and the international border mostly closed except for flights related the Phuket Sandbox scheme. "As for the rehabilitation process of THAI, it will drive its business according to the business rehabilitation plan approved by the court on June 15, 2021, with a new vision: 'A Private High-Quality Full-Service Carrier with a Strong Thai brand, connecting Thailand to the world and consistently generating a sustainable profit margin'," THAI said in its financial accounts.
