THAI registers operating loss of B19.7bn for last year
Thai Airways International posted a 55.11b baht net profit last year on 81.52b baht in revenue from one-time transactions, mainly asset sales, and a 19.70b baht operating loss. The airline said last year's operating loss was down 44% from the previous year but revenue from operations fell by 51% from 2020 to 23.75b baht. Income from passengers and cargo decreased by 59.9% to 24.60b baht. Operating expenses were at 43.45b baht, down by 48.2%. Apart from asset sales, the 81.52b baht in revenue from one-time transactions included income from debt restructuring, the sale of investments and restructuring and downsizing. As of Dec 31, the airline and its subsidiaries had assets of 161.22b baht, down 23% from a year earlier. Its accumulated debt was 232.47b baht, down by 31.2%. Worldwide, pressure on airline profitability diminished in the last quarter of last year with the improvement expected to continue this year, according to a business confidence survey of airlines' chief financial officers (CFOs) and heads of cargo, conducted by the IATA. However, the respondents were more cautious than in the previous survey due to the Omicron impact, soaring jet fuel prices and rising market competition that puts pressure on yields.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2022-03-01/star/thai-registers-operating-loss-of-b19-7bn-for-last-year
https://portal.staralliance.com/cms/logo.png
THAI registers operating loss of B19.7bn for last year
Thai Airways International posted a 55.11b baht net profit last year on 81.52b baht in revenue from one-time transactions, mainly asset sales, and a 19.70b baht operating loss. The airline said last year's operating loss was down 44% from the previous year but revenue from operations fell by 51% from 2020 to 23.75b baht. Income from passengers and cargo decreased by 59.9% to 24.60b baht. Operating expenses were at 43.45b baht, down by 48.2%. Apart from asset sales, the 81.52b baht in revenue from one-time transactions included income from debt restructuring, the sale of investments and restructuring and downsizing. As of Dec 31, the airline and its subsidiaries had assets of 161.22b baht, down 23% from a year earlier. Its accumulated debt was 232.47b baht, down by 31.2%. Worldwide, pressure on airline profitability diminished in the last quarter of last year with the improvement expected to continue this year, according to a business confidence survey of airlines' chief financial officers (CFOs) and heads of cargo, conducted by the IATA. However, the respondents were more cautious than in the previous survey due to the Omicron impact, soaring jet fuel prices and rising market competition that puts pressure on yields.<br/>
