» THAI Airways back in the black

National carrier THAI Airways was back in the black in 2022, reporting an operating profit of over $200 million as internal restructuring and resurgent tourism helped accelerate the airline’s turnaround.

THAI Airways was considered one of the premier airlines in Asia and the Pacific for many years because of its “Smooth as Silk” service. But in recent years, like many major airlines, price competition from the growing number of budget and economy airlines has elevated. As part of its strategy, THAI Airways purchased some smaller carriers to have a presence in that segment of the market.

It has taken a while to go through a restructuring program. It is…