Thai Airways reports profit for the first nine months of 2021
Posted: Thu Nov 18, 2021 10:23 am
Thai Airways reported a net profit in the first nine months of 2021. The positive financial outcome was largely attributed to asset sales and financial gain from debt restructuring.
In the first nine months of 2021, Thai Airways posted a net profit of 50.1 billion baht ($1.5 billion), an increase compared to a net loss of 49.5 billion baht ($1.5 billion) during the same period in 2020.
Thai Airways disclosed that out of 78.6 billion baht of its total revenues, 60.7 billion baht ($1.9 billion) came only from the airline's debt restructuring measures. The Central Bankruptcy Court of Thailand gave the final go-ahead for Thai Airways’ rehabilitation plan on June 15, 2021.
In the first nine months of 2021, Thai Airways posted a net profit of 50.1 billion baht ($1.5 billion), an increase compared to a net loss of 49.5 billion baht ($1.5 billion) during the same period in 2020.
Thai Airways disclosed that out of 78.6 billion baht of its total revenues, 60.7 billion baht ($1.9 billion) came only from the airline's debt restructuring measures. The Central Bankruptcy Court of Thailand gave the final go-ahead for Thai Airways’ rehabilitation plan on June 15, 2021.