News Forum - Thai Airways profits nearly tripled in last year’s final quarter

[Thaiger]

Thai Airways International (THAI) had a strong financial performance in the final quarter of 2022, reflecting the gradual recovery of Thailand’s tourism industry. According to the national flag carrier’s annual financial statement filed with the Thai Stock Exchange on 24 February, the net income for the fourth quarter of 2022 surged to 11.15 billion baht, …

The story Thai Airways profits nearly tripled in last year’s final quarter as seen on Thaiger News.

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[KaptainRob]

Profit?  Or revenue increase, TG is still losing money.  

[JJJ]

1 hour ago, KaptainRob said:

Profit?  Or revenue increase, TG is still losing money.  

Seems to have mixed up a lot of terms in writing it.  

Meanwhile trying to redeem miles is still ridiculously hard with very little capacity. 

[Grumpish]

"Meanwhile, THAI reported an 84.3% decrease in operating loss, excluding one-time items, to 4.59 billion baht in 2022"

So how does this relate to a tripling in profit, it can't be both? More of the increasingly poor journalism from The Thaiger, things have definitely got worse over the last few months, and the constant subscription and clickbait advertising pop-ups are getting very intrusive. 

[KaptainRob]

10 hours ago, Grumpish said:

"Meanwhile, THAI reported an 84.3% decrease in operating loss, excluding one-time items, to 4.59 billion baht in 2022"

So how does this relate to a tripling in profit, it can't be both? More of the increasingly poor journalism from The Thaiger, things have definitely got worse over the last few months, and the constant subscription and clickbait advertising pop-ups are getting very intrusive. 

Straits Times, The Star, Pattaya Mail and other publications carried the same erroneous story so I'd suspect it originated as a press release from Thai Airways.

[Grumpish]

1 hour ago, KaptainRob said:

Straits Times, The Star, Pattaya Mail and other publications carried the same erroneous story so I'd suspect it originated as a press release from Thai Airways.

That such an obvious error gets passed on without question is still shoddy journalism. 

[Smithydog]

It's just the way it is written. Better differentiation between the quarter results and the full year vs last year comparisons would help avoid confusion happening.

[Smithydog]

Here is the actual press release for the financial pundits

https://www.thaiairways.com/en/news/news_announcement/news_detail/pressconf-24feb2023.page?

Good signs but a very long way to go for a recovery including the quality of their service offerings being improved and delivered in a profitable manner.

[KaptainRob]

5 minutes ago, Smithydog said:

Here is the actual press release for the financial pundits

https://www.thaiairways.com/en/news/news_announcement/news_detail/pressconf-24feb2023.page?

Good signs but a very long way to go for a recovery including the quality of their service offerings being improved and delivered in a profitable manner.

As I suspected TG used the 'profit' word numerous times in lieu of revenue.  Totally misleading readers and copy writers alike.