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Thai Airways Skyrockets to Profit: Piyasvasti Amranand Leads Historic 28.1 Billion Baht Turnaround

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In an awe-inspiring comeback that could easily be filed under “Triumph Over Adversity,” Thai Airways International (THAI) has turned the tides, soaring high into the azure skies of financial resurgence. With a breathtaking leap in revenue and an enviable net profit of 28.1 billion baht in the last annum, THAI’s story is nothing short of a blockbuster hit in the world of aviation and tourism. Thanks to a surge in passenger travel demand, the airline has breezed through the turbulence brought about by the recent global crises, charting a course towards prosperous horizons.

Piyasvasti Amranand, the maestro steering the THAI rehabilitation committee, unveiled the staggering figures with a twinkle in his eye. The airline’s total revenue, after sidestepping the one-time transactions, hit a staggering sum of 161 billion baht last year. This splendiferous achievement was backed by a dramatic 79.3% ascent in passenger revenue. But that’s not all – with a cash flow surpassing 67 billion baht, the airline is not just flying; it’s soaring with liquidity, ready to confront its obligations and keep the engines of progress revving.

“Our encounter with debt, a formidable 120 billion baht dragon, is a tale of strategy and resilience,” declared Mr Piyasvasti with the air of a seasoned general. “The beast shall be tamed in 12 instalments, the first of which, a hefty 10 billion baht, is due this year. But fear not, for our financial armory is well-prepared to face this challenge head-on.”

Amidst the thunderous applause of investors and stakeholders, Mr Piyasvasti dropped another bombshell – a comeback on the Stock Exchange of Thailand (SET) is on the cards. With the trading of THAI shares suspended since May 2021 due to a risk of de-listing, the prospect of their return gleams on the horizon, much like the first light of dawn after a dark night. This is bolstered by earnings that defy gravity, floating above the expectations set in the rehabilitation plan.

The narrative takes an even more exhilarating twist with the revelation of THAI’s acquisition of at least 45 sleek birds from Boeing, a fleet set to grace the skies between 2027 and 2033. And before whispers of taxpayer burden begin, Mr Piyasvasti clarifies, “Not a single baht from the government’s coffers was summoned to support this saga during the Covid-19 pandemic. This tale is one of self-reliance and strategic foresight.”

Chai Eamsiri, the visionary chief executive officer of THAI, chimed in, “The acquisition of these majestic flying machines is a calculated manoeuvre in our grand scheme of conquests. Each decision, be it cash transactions or strategic alignments, is aimed at propelling THAI to heights unknown, in pursuit of excellence and unrivaled service.”

As THAI prepares to once again spread its wings, the journey ahead is painted in hues of optimism and ambition. With strategic maneuvers and a saga of overcoming adversity, the airline’s trajectory is set towards reclaiming its throne in the skies, a testament to the indomitable spirit of resilience and innovation that defines Thai Airways International.


  1. JohnD February 24, 2024

    It’s fantastic to see Thai Airways making such a strong comeback! This is a testament to the strategic leadership and innovative measures taken by the team. Well done, THAI!

    • SkepticalSue February 24, 2024

      I don’t buy it. This smells like creative accounting more than actual profit. Airlines have been hit hard. How can THAI claim such a significant turnaround?

      • FinanceGuru101 February 24, 2024

        SkepticalSue, while your doubt is understandable given the industry’s hardships, THAI’s recovery strategy was based on rigorous restructuring and tapping into the cargo flight demand. It’s all about adapting to market changes.

      • JohnD February 24, 2024

        Exactly, @FinanceGuru101! Moreover, THAI focused on improving their operational efficiency which played a crucial role. SkepticalSue, I assure you, the numbers add up when you dive deep into their strategy.

  2. TravelJunkie February 24, 2024

    This is a moment of pride! Finally, something positive in the aviation industry. I can’t wait to see what destinations THAI adds next. The world is opening up, and this is just the beginning.

  3. MarketWatcher February 24, 2024

    Interesting move making a comeback on the Stock Exchange of Thailand. This will surely bolster investor confidence if THAI delivers on its promises. I’m keeping an eye on their stock!

    • DayTraderDave February 24, 2024

      Definitely, @MarketWatcher. A successful reintroduction would be epic. But, I’m a bit hesitant. One great performance year doesn’t eliminate risk. I’ll wait a bit before jumping on.

    • ValueInvestor February 24, 2024

      Agreed with DayTraderDave. It’s promising, but the real question remains whether THAI can sustain this in the long run. The airline industry is notoriously volatile.

  4. EcoWarrior February 24, 2024

    While I’m happy for THAI’s turnaround, I’m also worried about the environmental impact of acquiring 45 new planes. The aviation industry needs to focus more on sustainable practices.

    • GreenTechie February 24, 2024

      Absolutely, EcoWarrior. However, newer aircraft models are generally more fuel-efficient, which could potentially lessen the environmental footprint. It’s a step in the right direction, albeit a small one.

  5. TaxPayerJoe February 24, 2024

    I’m just relieved to hear not a single baht from government funding was used for their recovery. It’s impressive how they pulled through without burdening the taxpayers.

    • JohnD February 24, 2024

      Indeed, TaxPayerJoe. It showcases the level of strategic planning and execution from THAI. Using resources wisely and efficiently is the way to go in business and governance.

  6. PlaneSpotter February 24, 2024

    Excited about the new Boeing fleet! THAI’s commitment to upgrading its aircraft is a bold but necessary move for staying competitive. Can’t wait to see the new birds in the sky.

  7. FinanceGuru101 February 24, 2024

    The robust cash flow is particularly impressive, given the industry’s cash burn rate recently. This positions THAI well for future investments and to handle its debt effectively.

    • SkepticalSue February 24, 2024

      Again, time will tell if this is sustainable. We’ve seen too many ‘comebacks’ flop. I hope for the best but remain cautious.

  8. PatriotPi February 24, 2024

    This is more than a financial win; it’s a national victory. It shows the world that THAI, and Thailand by extension, can rise above challenges and shine on the global stage.

    • RealistRick February 24, 2024

      Patriotism aside, let’s not forget the challenges ahead. The global aviation market is still recovering. It’s too early for victory laps. I want THAI to succeed, but we must stay grounded in reality.

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