THAI Airways International has posted a 155% increase in revenue and a narrower loss in the first quarter of this year, with liquidity surging to the highest point since the company filed for bankruptcy in 2020.
On Tuesday, the carrier announced its first-quarter revenue totaled 1.1 billion baht, up 155% from the same period last year.
An improvement in the airline’s performance is attributable to an increase in passenger and cargo traffic following the reopening of borders and the lifting of public health restrictions.
THAI Airways International and its subsidiaries posted a first-quarter loss of 3.2 billion baht, down from 8.9 billion baht a year ago. There was a loss of 1.49 baht per share, compared to a loss of 5.59 baht per share in the first quarter of last year.
The demand for international travel has increased significantly since the beginning of the year. Since the beginning of the month, Thailand’s entry rules have been relaxed, and Test & Go has been scrapped.
THAI also announced that it, and its subsidiary Thai Smile Airways, have increased or restored flight frequencies to many destinations.
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These include the Bangkok-London route returning to 14 flights per week from the current 11 weekly flights from May 29.
Bangkok-Frankfurt flights will also increase from 10 weekly flights to 14 weekly flights beginning June 25. The number of flights to India, Pakistan, and Asean will also increase.
The financially strapped Thai Airways has sold or is in the process of selling 45 aircraft, leaving it with just 58 aircraft, excluding three 777-300 extended range aircraft that it leased recently.