Thai Airways’ revenue finally takes off

Thai Airways’ July progress report reveals a promising outlook for Thailand’s flag carrier, which expects to exit its financial rehabilitation plan earlier than expected. The airline’s revenue has shot up due to increased passenger traffic, but cutting costs, selling stock, and chasing debts have been Thai Airways’ secrets to getting back on track.

After improving its performance, Thai Airways submitted a petition to the Central Bankruptcy Court on July 1st seeking to revise the airline’s current rehabilitation plan, which was acknowledged yesterday by government spokesperson Thanakorn Wangboonkongchana.

According to the report, the airline has 14 billion baht in net cash reserves as of June 30. As a result, Thai Airways may need funding of 12.5 billion baht, instead of 50 billion baht as permitted under the restructuring programme.

Thai’s revenue from…