Thai Airways (THAI) announced 2024 revenue (excluding one-time items) of 187.9 billion baht, a 16.7% increase year-over-year. Operating profit (EBIT) rose 3.2% to 41.5 billion baht, exceeding rehabilitation plan targets. However, a net loss of 26.9 billion baht was reported due to a 45.2 billion baht one-time loss from debt conversion during its rehabilitation.
Rehabilitation Progress and Stock Resumption
THAI’s EBITDA surpassed rehabilitation plan requirements, and shareholder equity turned positive. Consequently, THAI stock will resume trading on the Stock Exchange of Thailand (SET) after rehabilitation completion. An Extraordinary General Meeting of Shareholders is scheduled for April 18, 2025, to approve a new board of directors. Capital reduction via par value adjustment is also proposed to offset accumulated losses.
Operational Highlights and Future Plans
THAI’s passenger numbers reached 16.14 million, with revenue driven by increased demand and expanded routes. Operating expenses also rose due to increased volume and fuel costs. The airline plans to operate 883 weekly flights to 64 destinations in winter 2025, expanding its network to meet growing travel demand.
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