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Thai Airways Expects Optimistic Revenue Growth, Targets 130 Billion Baht in 2023
(CTN News) – The national flag carrier of Thailand, Thai Airways (THAI), expects a healthy financial year. Revenue for Thai Airways is expected to reach at least 130 billion baht this year, up from 11 billion baht in the first quarter.
Impressive First Quarter Results Boost Thai Airways’ Revenue Expectations
The CEO of THAI, Chai Eamsiri, said Tuesday that the company is on track to finish its financial rehabilitation in 2025, as previously revealed in the Bangkok Post.
According to Eamsiri, the national airline made 41.5 billion baht in the first quarter, an astonishing 271.2% increase over the 11.1 billion baht it made in the same period last year. The increase in scheduled airline travel is largely responsible for this dramatic expansion.
Eamsiri also mentioned that the first of March marked the return of flights to China and that traffic to famous tourist destinations like Japan and Korea had increased dramatically in the previous quarter.
The 42.2 billion baht in cash flow that the company now enjoys is a huge rise from the 5.7 billion baht it had last year, thanks to its increased profits.
Eamsiri promised investors that the airline would repay its initial eight billion baht in debt by the middle of 2024 and that the company would pay off its entire 140 billion baht in debt within the allotted ten years.
Thai Airways Expands Services with Summer Schedule, Adds New Routes
In addition, Eamsiri stated that beginning this month, the airline would increase compensation by 5%.
Thai Airways announced its summer timetable and global expansion in March. For the summer, Thai Airways will expand by operating 39 European, 9 Asian, and 30 Chinese flights.
More flights will be available on popular routes, and more flights between March 26 and October 28. At the start of this month, Thai Airways launched five new routes to China, increasing the number of weekly flights to 14.
