THAI sees signs of an early turnaround as losses shrink

THAI is banking on pulling out of bankruptcy protection and resuming trading of its shares earlier than planned as the carrier's bottom line is looking up. Chai Eamsiri, THAI's chief of finance and accounting, said on Tuesday the airline has continued to slash expenses and is confident its revenue will keep growing this year as the pandemic has subsided and travel restrictions are easing. The measures launched to streamline its operations and its improving financial performance are expected to enable the airline to emerge from financial rehabilitation and resume its stock trading sooner than was originally thought possible. The Stock Exchange of Thailand (SET) has suspended the trading of THAI shares since May 18 last year due to the risk of it de-listing as a result of negative equity and signs of non-compliance (NC). Chai said on Tuesday the company has until 2025 to resolve the issues that forced it to be suspended from the SET. However, the carrier is determined to get things back on track much sooner, he added. The recovery of global travel has narrowed THAI's losses to 3.1b baht in Q1 this year, down from 6.9b baht in the corresponding period last year. This week, the IATA announced in Doha, Qatar, an upgrade to its outlook for the airline industry's 2022 financial performance as the pace of recovery from the Covid-19 crisis quickens.<br/>