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Thai Airways International announces US$8 million annual loss
February 27th 2023
Thai Airways International (THAI) has booked a net loss of 272.2 million baht (US$8 million) for its fiscal year to December 31 compared with a net profit of 55.1 billion baht in the year ago period. Read More » Revenue was up 342.3%, to 105 billion baht, as a result of significant increases in passenger and cargo business, the airline said. In a regulatory filing, THAI reported its net result was impacted by one-time items such as the reversal of losses on impairment of assets and profits from asset sales despite losses from debt restructuring and the depreciation of the baht. THAI is expanding its 64 aircraft fleet to increase flight frequencies and add routes to its network in response to improved demand.
