Thai eyes profitability from 2023, as potential delisting looms

Embattled Thai Airways has disclosed that it expects to become profitable again from 2023 and return to positive equity by 2030. The carrier, which is undergoing business restructuring, disclosed this as part of guidelines it issued to address a potential delisting from the Stock Exchange of Thailand (SET). SET guidelines state that a company risks delisting if it reports negative equity. Thai’s shareholder equity for the year ended 31 December 2020 fell to negative Bt129b ($4.14b), as the carrier, already in weak financial shape, was badly impacted by the coronavirus outbreak. The SET has stated that companies with negative equity should resolve possible grounds for delisting within three years. Given that Thai only expects to return to positive equity in 2030, it is likely to have missed the deadline. “In this case, it may result in the SET proposing the SET’s Board of Governors to consider possible delisting of Thai,” it discloses.<br/>