Thai Airways announces a profit of 55 billion baht, prepares to provide loans hoping to get out of the recovery plan as targeted Prepare to open additional routes for Australia, India, Saudi, Korea, Japan by the end of the year.
On March 28, 2022, Mr. Piyasawad Amranan, chairman of the rehabilitation plan administration team. Thai Airways International Public Company Limited reveals the results of the year 2022 The Company and its subsidiaries have net profits ending December 31, 2021 amounting to 55 billion baht.
However, the Company and its subsidiaries lost from operations, excluding one-time items of 19 billion baht, a loss of 44% last year, with revenues 51% lower than the previous year, at 23 billion baht. and products decreased by 59%, but other income increased by 1.4 billion baht following debt restructuring, asset sales, restructuring of the organization, so there was a profit
The company is in the process of providing a loan of 25 billion baht with the authorities. by bringing the company’s assets over 30 billion baht as collateral assets Expect to sign a loan agreement within March.
Initially, the loan will be used to pay back the ticket price of 10 billion baht, pay 4 billion baht to compensate employees who resigned, and the remaining 11 billion baht will be used as working capital. The Ministry of Finance will not provide loans. but will hold at least 40% of Thai Airways International’s shares, and is expected to bring the shareholders’ equity back to positive soon.
THAI will be able to exit the rehabilitation plan before 5 years as targeted. The problem in Ukraine make oil more expensive but will not affect much because the fleet has been adjusted to use fuel-efficient models It plans to open more international flights to Melbourne, Australia and India in the second quarter and Saudi Arabia. Korea and Japan at the end of the year
