Thai Airways reports Third Quarter 2024 Performance Results with Strategic Growth Initiatives

Thai Airways reports Third Quarter 2024 Performance Results with Strategic Growth Initiatives

Thai Airways International Public Company Limited (THAI), our premium member, reported total revenue (excluding one time items) of Baht 45,828 million for Q3 2024, representing an increase of 23.8% compared to Baht 37,008 million in Q3 2023. The airline served 3.94 million passengers during the quarter.

Thai Airways is focused on restructuring as a private company, enhancing its fleet and route network, improving service quality, and optimising operational efficiency and employee benefits.

The company aims to re-enter the Stock Exchange of Thailand by Q2 2025 to strengthen Thailand’s capital markets. Thai Airways is also restructuring its capital to reinforce its financial position by converting part of its debt into equity and issuing new shares to existing creditors. This process is expected to be completed by the end of 2024.

As of 30 September 2024, Thai Airways operated a fleet of 77 aircraft, comprising 20 narrow body and 57 wide-body aircraft. In October 2024, the company added two additional wide-body aircraft through leases, bringing the total number of new aircraft added to the fleet this year to nine.

Thai Airways’ robust operational plan and ongoing business development have positioned the company for a stable and strong future. The positive financial performance in Q3 2024 reflects the effectiveness of its strategic initiatives, organisational restructuring, and unwavering commitment to excellent passenger service. Thai Airways is well-prepared to move forward as a sustainable and resilient leader in Thailand’s aviation industry.

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