The figured marked a significant improvement from the loss recorded in the same period last year, reports state news agency NNT.
For the third quarter, THAI and its subsidiaries achieved a net profit of B1.55bn, compared to a loss of B4.78bn the previous year. The company’s revenue rose by 12.6% to B37bn, thanks to increased passenger transport revenue.
Operational efficiency improvements have resulted in a substantial increase in EBITDA and a profit of B7.72bn from core operations. The airline managed a slight increase in total expenses despite higher production and transport volumes.
THAI’s recent operational strategies include expanding flight routes, particularly to Japan, and integrating additional aircraft from Thai Smile Airways to enhance service efficiency. This move is part of the airline’s broader strategy to streamline operations and adapt to the recovering tourism industry.
As of the end of September 2023, THAI’s total assets have risen significantly, with a corresponding increase in liabilities. However, the airline’s negative equity has reduced, reflecting its ongoing financial recovery.