In the dynamic skies of the aviation industry, Thai Airways (THAI) has once again proven its mettle by soaring to new heights with a jaw-dropping profit of over 12 billion baht in the second quarter of 2025. This impressive comeback is fueled by a delightful combination of cost-effective jet fuel and a marked increase in passenger traffic. The flag carrier and its subsidiaries reported a lucrative revenue of 44.83 billion baht for the quarter, exclusive of one-time items, reflecting a commendable 1.9% hike over the previous year.
Passenger numbers have significantly taken off, climbing 4.2% year-on-year to reach a spectacular 3.97 million travelers. This upward trajectory was largely driven by increased flight frequencies on buzzing routes, such as Shanghai, Hong Kong, and Denpasar. The airline achieved an average cabin factor of 77%, outshining last year’s 73.2% during the same period. Operating expenses took a nosedive by 9%, settling at 34.65 billion baht, thanks to a sharp decline in oil prices. This reduced expenditure occurred despite a hike in fuel consumption due to an expanding flight schedule, plus additional savings from decreased aircraft maintenance costs.
As a result, the operating profit before finance costs escalated by a phenomenal 71.8% to reach 10.18 billion baht, delivering an impressive EBIT margin of 22.7%. After factoring in finance costs of 3.39 billion baht and one-time gains totaling 5.35 billion baht—chiefly from converting leases to purchases for four Boeing 777-300ERs—the airline recorded a net profit of 12.13 billion baht. This marks a dramatic ascent from the rather humble 314 million baht profit logged in Q2 2024.
In the first half of 2025, the airline’s revenue continued its climb to 96.45 billion baht, a 7.2% year-on-year increase, while net profit skyrocketed to an astounding 21.97 billion baht, showcasing a staggering 702% growth. The passenger load factor averaged at an all-time high of 80.2%, with 8.3 million passengers carried. As of June 30, THAI boasted 78 active aircraft, each clocking an average utilization of 13.6 hours daily. This robust performance is reinforced by a strategic enhancement in financial health, with total assets valued at 297.69 billion baht and liabilities conveniently trimmed down to 230.13 billion baht. The airline’s cash reserves and current financial assets stand strong at 120.01 billion baht.
This tale of triumph gains momentum as THAI marks its triumphant return to the Stock Exchange of Thailand (SET) on August 4, following a comprehensive rehabilitation process. In just four days of trading, THAI shares generated a daily turnover of 4.4 billion baht and closed yesterday, August 7, at a notable 13.40 baht—a 27.6% leap from its relisting price. This surge catapulted its market capitalization to an impressive 379.26 billion baht, securing its spot as the 11th largest stock on the exchange.
Thai Airways remains committed to sustainable growth, elevating service quality, and establishing itself as a regional aviation leader. Overcoming years of turbulence, it’s clear that THAI is back in the skies, and this time, it’s flying high not just metaphorically, but financially too.
In the latest flurry of Thailand news, Bangkok toll booths will see free passage in celebration of Mother’s Day travel, adding more sweetness to the festivities. Meanwhile, in the thrilling hustle of Pattaya, the much-anticipated Tomorrowland festival is set to grace Wisdom Valley in 2026, promising an unrivalled spectacle for all music aficionados. Amidst various business and weather updates, THAI continues to glide smoothly on its path of prosperity, and the story of its ascent is one that’ll be etched in the annals of aviation history.
Wow, 12 billion baht in profit is insane! But I can’t help but wonder if they’re cutting corners somewhere. Are passengers noticing any decline in service or safety just to boost numbers?
I flew with them last month, and honestly, their service was top-notch! Haven’t noticed anything off.
That’s good to hear! I guess they’re managing both growth and quality well then.
Impressive financial results! But let’s not forget that external factors like fuel prices played a huge role. I’d like to see how they handle challenges as the world shifts towards greener fuels.
They’ll need to adapt fast. Airlines that ignore sustainability will be hit hard by future regulations.
Totally. Plus, being green isn’t just about complying with rules—it’s about future-proofing their business.
As an aviation enthusiast, I’m thrilled to see THAI making such a comeback! It’s nice to see airlines rebounding post-pandemic.
But what about their debt? They should focus on trimming it more, or they’re just flying into a financial storm later.
True, their long-term liabilities could pose a risk, but trimming is already happening to some extent.
Can’t wait to book my trip to Thailand now that THAI is back in the game, hopefully ticket prices stay reasonable!
Agreed, but thriving airlines sometimes means higher prices. Let’s hope competition keeps them in check.
With more travelers, I hope THAI invests in reducing its carbon footprint. Profits don’t mean much if we’re ruining the planet.
Very much agree. Environmental impact should always be part of these success stories.
Such a profitable Q2 for THAI! Just curious, what does this mean for their employees? Are they going to see any benefits like raises or better work conditions?
If the company is smart, they’ll reinvest in their workforce. Happy employees equal happy customers.
The return to the stock exchange is a good signal, but the real test will be maintaining this performance throughout the year.
I’m not too sure if relisting is such a great thing. Isn’t this just a smokescreen to make their financial situation look rosier than it is?
It’s not uncommon for companies to use relisting as a confidence boost. We’ll need to watch their numbers going forward.
The improvement looks genuine so far. Let’s hope their upward trend translates into more good news.
I think we should be cautious about jumping to conclusions. The aviation industry is volatile. One major incident and they could be back in a slump.
Having traveled through Asia frequently, THAI’s consistent service is something many other airlines fail to match. Long may it continue!
Their market cap rise is phenomenal. Relisting might have priced some investors out, though. Buying in now’s pretty expensive!
Competition in Asian skies will intensify, especially with low-cost carriers upping their game. THAI needs to keep its fares competitive without sacrificing quality.
Listen, numbers are just numbers. What about the travellers’ trust after everything’s happened? Till that’s truly restored, profit sheets don’t mean much.
Given their recent service scores, passenger trust seems to be rebuilding fast.