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Thai Airways makes net profit
Cash-strapped Thai Airways managed to generate a net profit of THB51.1 billion in the first nine months of the year.
Piyasvasti Amranand, a member of the committee overseeing the court-supervised rehabilitation plan, said the upturn is largely due to selling assets and workforce cuts brought about by the restructuring.
Piyasvasti said the airline was performing well.
The reopening of Thailand’s tourism industry has been the driver, with international passengers doubling since 1 November.
Overall, there has been a 25% jump in air traffic compared to the previous month
Last week, Finance Minister Arkhom Termpittayapaisith said the airline may only need a loan of THB25 billion to shore up its liquidity.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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