Thai Airways declares B55bn net profit

Thai Airways declares B55bn net profit

Thai Airways International planes parked at Suvarnabhumi airport in December. (File photo: Somchai Poomlard)
Thai Airways International planes parked at Suvarnabhumi airport in December. (File photo: Somchai Poomlard)

Thai Airways International on Monday reported a 55.11 billion baht net profit last year on 81.52 billion baht in revenue from one-time transactions, mainly asset sales, and 19.70 billion baht operating loss.

The airline said last year's operating loss was down 44% from the previous year but revenue from operations fell by 51% from 2020 to 23.75 billion baht.

Income from passengers and cargo decreased by 59.9% to 24.60 billion baht.

Operating expenses were 43.45 billion baht, down by 48.2%.

Apart from asset sales, the 81.52 billion baht revenue from one-time transactions included income from debt restructuring, the sale of investments and restructuring and downsizing. 

As of Dec 31, the airline and its subsidiaries had assets of 161.22 billion baht, down 23% from a year earlier. Its accumulated debt was 232.47 billion baht, down by 31.2%.

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