Thai Airways confident revenue will reach 200 billion baht this year as new aircraft boost second-half flights

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Thai Airways confirmed its full-year revenue target of 200 billion baht, even as oil prices climb again, after posting 99.6 billion baht in revenue in the first half. Chai Eamsiri, chief executive of Thai Airways, told InfoQuest that the company has not cut flights since July, even though jet fuel prices have risen again to more than 160 dollars a barrel. That follows the second quarter, when flights were cut by about 6-7% in May and roughly 2% in June. Second-quarter net profit came to 1.528 billion baht, down 87% from a year earlier, while the first quarter delivered a profit of 10 billion baht. Fuel costs rose to 40% of total costs, squeezing the second-quarter net profit margin to about 3%, down from nearly 20% during its strong performance period. The company has hedged more than 40% of its forecast fuel consumption and will take delivery of another 13 aircraft this year, bringing the fleet to 102 planes by year-end, before expanding to 111 in 2027 and 150 under its plan by 2033. It will also add frequency on European and Asian routes and resume flights to Da Nang, Siem Reap and Xiamen. Meanwhile, the 10 billion baht aircraft maintenance centre project at U-Tapao has yet to be approved by the company's board.

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