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Thai Airway expected to grow 40% this year

“Thai Airways” Announced depart from early economic recovery plan before the end of 2024, ready to return to trading in 2025 after EBITDA is projected to be positive at more than 20 billion baht, while revenue this year is expected to grow 40% from 90 thousand billion baht last year.

Mr. Chai Iamsiri, Chief Executive Officer of Thai Airways International Public Company Limited, revealed that Thai Airways is currently operating according to the business rehabilitation plan, approximately 70% of which still remains the matter of new financing amount of 25 billion baht, which is currently under study. Comparison of financing approaches And waiting to assess the financial situation to see how much funding is needed.

Because at present, Thai Airways has continuous cash flow (cash flow). Accumulated at the level of 35 billion baht, so if the mid-year performance continues to be positive. Thai Airways may not have an urgent need to raise new capital. Or there may be a procurement of only 12.5 billion baht.

While the overall picture of the current operations, Thai Airways has a passenger load rate. (Cabin factor) averages about 80% and expects the whole year of 2023 to be at 80%, while this year’s revenue is expected to grow by about 40% from the year 2022, which is expected to earn 90 billion baht, which starts to return.

Similar to the period before the outbreak of COVID-19 where Thai Airways has an average income of about 1.6 – 1.7 hundred thousand billion baht per year. Flight capacity At present, Thai Airways has resumed operations, accounting for 65% of all routes. compared to 2019 and plans to gradually launch more flights on routes in Asia, China, Japan and Europe according to popular cities. This will enable Thai Airways to resume 80% of its flights in 2025.

“Based on continuous positive performance since May 2022, coupled with the prospects for a recovery in existing demand. We are confident that this year’s operating results before finance costs, taxes, depreciation and amortization (EBITDA) will be positive of more than 20 billion baht, meeting the criteria for filing out of the rehabilitation plan that the company must have EBITDA. Deduct rent and cash for the past 12 months must have a balance of more than 20 billion baht, so that Thai Airways will be able to exit the rehabilitation plan before the end of 2024 and return to trading by 2025.”

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