BANGKOK (NNT) – Thai Airways International (Thai) says it may be able to exit financial rehabilitation sooner than initially expected and resume stock trading.
According to Chai MCiri, head of finance and accounting at Thai, reducing airlines’ costs and streamlining operations and financial performance will enable revenue growth. With this development, the airline may be able to resolve its trading suspension issue with the Thai Stock Exchange (SET) before the 2025 deadline.
After easing travel bans, the airline’s operating losses fell to 3.1 billion baht in the first quarter of this year, down from 6.9 billion baht for the same period last year.
Chai added that Thai is currently working to raise a new fund as part of an ongoing restructuring program. The company will also sell assets worth about 2 billion baht to focus on online ticket sales.
The International Air Transport Association (IATA) has already revised the 2022 financial performance of the airline industry. Industry losses are expected to fall to 7 9.7 billion from the initial forecast of .6 11.6 billion. In its amendment, the association cited increased travel demand – a trend that continues as more countries move to relax sanctions.
Information and sources
- Reporter: Paul Rujopakorn
- Rewriter: Paul Rujopakorn
- National News Bureau: http://thainews.prd.go.th