Leading securities firms assess that Thai Airways International Public Company Limited, or THAI, posted stronger-than-expected core profit in the second quarter of 2026, despite pressure from sharply higher jet fuel prices. Net profit came in at 1.528 billion baht, with core profit of about 1.110 to 1.219 billion baht. Revenue from the main business grew around 8.8 to 9 percent year-on-year to about 47.121 billion baht, driven by a 16 to 20 percent increase in average fares and a 28 percent rise in cargo revenue. However, net profit fell 85 to 87 percent from a year earlier and dropped 85 percent from the previous quarter, because of the low travel season and jet fuel costs that rose as much as 73 percent year-on-year, with the average price reaching 187 US dollars per barrel. Most brokers maintain buy or hold recommendations, with target prices ranging from 6.20 to 8.00 baht, and expect second-half earnings to recover clearly in the fourth quarter thanks to the peak travel season and an increase in the fuel hedging ratio to 40 percent.
Thai Airways International Public Company LimitedCore profit beat expectations despite fuel costs, with brokers maintaining buy/hold and expecting Q4 recovery.
