Author: Pull the curtains
Thailand Airlines recently announced its financial situation in 2021, with its consolidated profits of up to 55 billion baht (about 1.7 billion US dollars). This is not only "make money crazy", but also the company's first profit since 2016.
Thai Airlines' "mad profit" this time mainly comes from "one-time income", including the income from the injection of new funds and the sale of assets. Last year it sold 34 aircraft, 32 of which were wide-body - but how many of them were sold were not found.
Picture: Thai Airways Photo: LaCurtain
Thai Airlines announced its "one-time revenue" in 2021 to be 61.8 billion baht (about 1.9 billion US dollars), which is 200 million US dollars more than the profit. This means that it is essentially still in a state of "operating losses", and "mad profit" is just the result of the summary of accounting accounts. But with tourism opening and freight revenue increasing, its losses have dropped significantly from 141 billion baht (about US$4.3 billion) in 2020.
Thai Airlines Group's fleet size was nearly 100 aircraft, with almost all the popular models of Boeing and Airbus. But Thai Airways has reduced its models to three. It now only operates A350, Boeing 777 and 787. Its cheap subsidiary "Tai Smile" also retains only 20 A320s. This simplified structure is conducive to reducing the development and improving efficiency.
Picture: Thai smile in Phuket Photo: LaCurtain
After the scale of LaCurtain
, US$1.7 billion is enough for Thai Airlines to support for many years. After the tourism resumed, tourists to Thailand mainly came from Germany, the United Kingdom, Northern Europe and Japan; although the number of people was not large, they had strong consumption capacity. If the impact of the epidemic is no longer serious and as this momentum continues, Thai Airways accounting should not have to rely on "one-time" income next year, and can also level the account .
