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

[Thaiger]

Thailand is making headlines in the news for a variety of reasons. Thailand‘s national carrier, Thai Airways, saw a dramatic increase in profits in the last quarter of the year, nearly tripling their profits. This is great news for the country, as it is a sign of economic growth and stability. In addition, Thailand has …

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

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[UncleFatBloke]

Haha. I clicked the "Read the Full Story" link, and the full story is just a couple of lines longer than what is written above!

And the rest doesn't give any additional information like - How much profit? And "Nearly tripling their profits" is compared to which period?!

A quick bit of Googling later I found:
In the fourth quarter, the total revenue was 36,902 million baht or 1 billion USD.

This is 367% higher than the same period last year.

However, the total expenses accumulated to 28,020 million baht or approximately 802 million dollars. 

The airline’s operating profit (EBIT) was recorded at 8,882 million baht or 229 million USD, which is significantly higher than last year of an operating loss of 2,579 million baht.

However, I could not find details so that we can make a comparison with previous/pre-Covid years, which I think would be the most relevant data!

[palooka]

Pre covid they were losing (scamming) so much your eyes watered at the numbers.

[Aussieroaming]

Less money being stolen by senior management equals greater profit. I would also be concerned about how much maintenance is being ignored. I flew on a Thai flight a couple of weeks ago from HK in Business Class and the cabin of the Boeing A350 was extremely shabby and the rest rooms were filthy for the entire flight. I have flown Thai many times and this was the worst state of affairs that I have seen.

[Grumpish]

Still way too many aircraft in the Thai Airways parking lot at Suvarnabhumi.

[Pinetree]

There is profit and there are fairy tails.  Any accountant will tell you that profit is a movable feast and is  meaningless in assessing the health of a Company. EBITDA is the one measure that matters.

 https://corporatefinanceinstitute.com/resources/valuation/ebitda-margin/