Thai Airways (THAI) is expected to earn at least 130 billion baht in revenue this year after its net profit in the first quarter reached 12.5 billion baht.
THAI CEO Chai Eamsiri said on Friday the airline is expected to finish its financial rehabilitation in 2025 as planned.
He said the national carrier earned 41.5 billion baht of revenue in the first quarter -- 271.2% more than the income of 11.1 billion baht in the same period last year due to increased commercial flights.
He added that flights to some popular tourist attractions, such as Japan and Korea, increased in the last quarter, with flights to China returning on March 1.
The better earnings gave the carrier 42.2 billion baht of cash flow, up from 5.7 billion baht last year.
Mr Chai said the carrier would pay the first amount of debt, costing at least eight billion baht, to their investors in mid-2024 and will pay its 140 billion baht total debt in ten years as planned.
Regarding the second quarter this year, Mr Chai said he expected more than 100% growth compared to last year. However, due to the country entering the low season for tourism, the passenger load rate is expected to be approximately 77%, and earnings are also expected to be lower than the first quarter, he said.
Mr Chai added that the airline would be raising employee salaries by 5% starting this month.
Thai Airways (THAI) executives at a press conference on Friday.(Photo: Pornprom Satrabhaya)