Thai Airways (THAI) has reported 14.776 billion baht in profits for the first half of 2023, while revealing that delays in forming the new government have yet to impact the number of advance flight bookings.
Thai Airways Chief Executive Officer Chai Eamsiri revealed that Thailand’s current political situation has yet to impact the number of advance bookings made with the airline. He further noted that foreigners have become more familiar with the country’s political activities.
The CEO also discussed the Excise Department’s re-activation of its 4.72 baht per liter excise collection for jet fuel starting July 1, 2023. The move followed the department’s decision to lower the excise to 20 satang per liter at the beginning of the year. Chai said the excise returning to the previous level has resulted in domestic ticket prices rising by 10-100 baht per ticket, depending on each airline’s costs.
For the first six months of 2023, Thai Airways International made 78.889 billion baht in revenue and 14.795 billion baht in net profit. The improved performance was attributed to more frequent flights operated on the airline’s popular routes, as well as those to China and Japan.
The executive added that the number of destinations in China has been increased to five, namely Beijing, Shanghai, Kunming, Guangzhou, and Chengdu. The improved results are also believed to stem from debt restructuring and both domestic and international consumers maintaining confidence in the airline.
According to Thai Airways executives, 37% of the airline’s passengers currently hail from Europe and 33% from East Asia. Additionally, 10% were from India and Bangladesh and 7% were from Malaysia, Indonesia and Singapore. (NNT)