BANGKOK, Thailand – Thai Airways International has reported a net profit of 10.107 billion baht for the first quarter of fiscal year 2026, according to its latest financial statement released on May 14, 2026. The airline posted total revenue of 51.029 billion baht (excluding one-time items), a decrease of 596 million baht or 1.2% compared to the same period last year. The decline was mainly attributed to lower production capacity and reduced transportation volumes year-on-year. Despite this, passenger yield remained close to last year’s level, including fuel surcharges and insurance compensation fees (excluding excess baggage revenue). The company noted that this stability was achieved despite pressure from the stronger Thai baht, reflecting effective pricing and revenue structure management.
Total expenses (excluding one-time items) stood at 37.282 billion baht, down 1.8% year-on-year, primarily due to lower jet fuel costs driven by reduced operations and currency appreciation, even though average fuel prices slightly increased. Variable costs linked to flight operations and passenger volume also declined. Operating profit before financial costs (excluding one-time items) reached 13.747 billion baht, up 0.6% year-on-year, with an operating margin of 26.9%. Financial costs fell to 2.987 billion baht, a reduction of 494 million baht from the previous year. The company also recorded 1.088 billion baht in net one-time gains, mainly from aircraft lease termination gains, derivative valuation gains, and foreign exchange losses. As a result, net profit for Q1 2026 increased slightly from 9.839 billion baht in the same period last year to 10.107 billion baht, while EBITDA stood at 17.548 billion baht.
As of March 31, 2026, Thai Airways operated 80 aircraft, with an average utilization rate of 13.8 hours per aircraft per day. The airline carried a total of 4.18 million passengers.
Capacity (ASK) was 17,389 million seat-kilometers, down 1.9%, while passenger traffic (RPK) was 14,453 million passenger-kilometers, down 2.2%. The passenger load factor remained strong at 83.1%, nearly unchanged from 83.3% a year earlier.
Total assets stood at 324.542 billion baht, up 6.7% from the end of 2025, while total liabilities rose 3.4% to 235.920 billion baht. Shareholders’ equity increased significantly by 16.7% to 88.622 billion baht. The company also reported cash and cash equivalents, including other current financial assets, of 132.320 billion baht—an increase of 8.76 billion baht from the end of 2025, supported by operating performance.
