Thai Airways International (THAI) announced plans to relist on the Thai stock exchange in early August after the Central Bankruptcy Court ended its rehabilitation process on Monday.
The airline said on Monday that the court had now approved its request to conclude rehabilitation. The request was filed on April 28.
Approval followed the airline’s success in complying with its rehabilitation plan, which included an increase in its registered capital and Ebitda (earnings before interest, taxes, depreciation and amortization) amounting to 40.31 billion baht from April last year to March this year. This was significantly higher than the required Ebitda of 20 billion baht.
THAI said it will now seek approval for relisting on the Stock Exchange of Thailand in early August.
THAI director Piyasvasti Amranand, who headed the airline's rehabilitation committee, said that over the past four years the airline restructured its organisation, expanded flight routes, adjusted its fleet, improved services and passenger cabins, upgraded its digital system, enhanced income generation capabilities and cut costs.
The airline also strengthened its financial status by converting liability into equity and offering additional common shares to shareholders and staff.
As a result, as of March 31, shareholders’ equity showed a surplus of 55.22 billion baht, compared with a deficit of 127.23 billion baht at the end of 2020, Mr Piyasvasti said.
He also said that THAI had made a profit from its operation in every quarter since 2023 and was one of three airlines with the biggest operating margins in the past two quarters.
Mr Piyasvasti said liability had dropped from about 400 billion baht to the present 95.50 billion baht.
