Thai Airways International reports US$135 million quarterly loss

November 16th 2022

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Thai Airways International (THAI) has reported a net loss of 4.8 billion baht (US$135 million) for the three months to September 30 against a net profit of 40 billion baht in the same months a year ago. Read More » The 2021 figures were boosted by a one-off gain from the company's debt restructuring. Revenue rose 582.2%, to 32.9 billion baht, THAI informed the Stock Exchange of Thailand. The airline group, THAI and THAI Smile, said passenger and cargo demand had significantly increased, but the cost of aviation fuel had risen 80% compared with September 2021. “In response to growing travel demand, THAI will increase flight frequencies and destinations to Stockholm, Taipei, Tokyo Haneda, Fukuoka, Sapporo, New Delhi, Mumbai, Hyderabad, Kolkata, Jeddah, Singapore, Melbourne, Guangzhou, and Kunming,” it said. “In accordance with the rehabilitation plan, THAI will increase its operating fleet utilising existing aircraft and also by leasing new aircraft to optimise route and flight planning.”