BANGKOK — Thai Airways International Public Company Limited (THAI) officially resumed trading on the Stock Exchange of Thailand on Monday, August 4, following its successful business rehabilitation. The stock surged 134.4% on its first trading day, opening at 10.50 baht per share compared to its IPO price of 4.48 baht per share, giving the airline a market capitalization of nearly 300 billion baht ($9.24 billion).
Lavaron Sangsnit, Chairman of Thai Airways’ Board of Directors, described the stock market return as a significant milestone for Thailand’s national carrier. “The numbers speak for themselves regarding our current strength,” he said. “Our internal management is now very strong, but we still lack hardware – we don’t have enough aircraft. With more planes, we believe we can generate even higher revenues.”
Major Fleet Expansion Plans Underway
The airline has already finalized agreements for 80 new aircraft, with deals concluded in late 2023. The order includes 45 Boeing aircraft, with an additional 35 aircraft to be determined in the next phase. These expansion plans are separate from recent discussions regarding potential purchases of 80-90 additional US-manufactured aircraft as part of broader trade negotiations.
CEO Chai Eamsiri emphasized the airline’s operational independence since late 2020, stating that aircraft purchasing decisions are based purely on economic fundamentals without external political pressure. The 45-aircraft order was finalized before any trade-related discussions, he noted.
Sustained Profits Signal Recovery
Thai Airways has reported profits for 10 consecutive quarters, including traditionally challenging second and third quarters that historically posted losses. This consistent performance demonstrates the effectiveness of the airline’s restructuring efforts.
The carrier has also resumed normal operations to Cambodia with two daily flights following temporary disruptions due to border tensions, with Thai Airways staff returning to their positions in the country.
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