Thai Airways International (THAI) says it may be able to exit financial rehabilitation and resume stock trading sooner than initially predicted.
According to THAI’s chief of finance and accounting, Chai Eamsiri, the airline’s expenditure cuts and measures to streamline operations and financial performance will enable revenue growth. With these developments, the airline may be able to resolve its trading suspension issue with the Thai Stock Exchange (SET) before the 2025 deadline.
Following the relaxation of travel restrictions, the airline’s operational 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 working on mobilizing a new fund as part of the restructuring program currently underway. The company will also sell assets worth about 2 billion baht in order to shift its focus to online ticket sales.
The International Air Transport Association (IATA) has meanwhile revised the airline industry’s 2022 financial performance. Industry losses are expected to fall to 9.7 billion dollars from an initial forecast of 11.6 billion. In its revision, the association cited increased travel demand – a trend it sees continuing as more countries move to relax curbs. (NNT)