Thai Airways International (THAI) will return to the Thai stock exchange in early August, following the successful completion of its court-supervised rehabilitation programme.
The announcement came on Monday after the Central Bankruptcy Court officially approved THAI’s request to exit rehabilitation. The request was submitted on April 28.
The court’s decision followed the airline’s compliance with its rehabilitation plan, which included a significant boost in earnings and capital.
Between April 2023 and March 2024, THAI recorded earnings before interest, taxes, depreciation and amortization (Ebitda) of 40.31 billion baht, more than double the 20 billion baht required under the plan.
The airline will now proceed with seeking approval for relisting its shares on the Stock Exchange of Thailand in August.
Piyasvasti Amranand, THAI board member and chair of the rehabilitation committee, said the airline had undergone a comprehensive transformation over the past four years.
This included organisational restructuring, expansion of flight routes, fleet adjustments, service and cabin upgrades, digital system improvements, revenue optimisation, and cost reductions.
THAI also improved its financial standing by converting debt into equity and issuing additional common shares to shareholders and employees.
As a result, the airline reported a shareholder equity surplus of 55.22 billion baht as of March 31, marking a sharp turnaround from a deficit of 127.23 billion baht at the end of 2020.
According to Piyasvasti, THAI has reported operating profits in every quarter since 2023 and is now ranked among the top three airlines globally in terms of operating margin over the past two quarters.
He added that the airline’s total liabilities have fallen dramatically, from approximately 400 billion baht to 95.50 billion baht.
