THAI reported a net loss of 252 million baht for the quarter compared to a profit of 55 billion baht in the same period last year, when the company recorded a one-time gain of roughly 62 billion baht from restructuring debt. In 2022, the total operating income increased by 342% to 105 billion Thai Baht.
In late 2023, THAI expects to end a court-supervised debt restructuring earlier than expected because a recovery in international air traffic will increase its cash flow and lessen the need for more loans.
Prior to most creditors agreeing to extend terms and reduce some payments as part of its $5.3 billion rehabilitation plan in 2020, the airline, which has reported net losses in all but two of the years since it began reporting them in 2013, filed for bankruptcy protection.
According to a statement released on Friday, the airline also stated that it intended to expand its fleet, add additional routes, and increase flying frequency. It stated that stock in the airline should be able to start trading again in 2025.
Asia Aviation Pcl, the company that runs Thai AirAsia, the country’s leading budget airline, recorded a profit of 3.1 billion baht for the fourth quarter that concluded on December 31 as opposed to a net loss of 993 million baht during the same period last year. To 12.5 billion baht, revenue more than tripled.
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