Thai Airways is hoping to end 2022 on a positive note with expected earnings before interest, tax and depreciation (EBITDA) of $582 million this year. Although the airline still has to announce its financial statement for 2022, Chai Eamsiri, CEO of the airline, predicts that the carrier will exit rehabilitation by late 2024 and return to the Thai Stock Exchange by 2025.
Speaking at media briefing, Chai said revenue increased fourfold to nearly $2.62 billion, and he expected the revenue to grow by around 40% this year. If that target is met, revenue would have rebounded to about 70% of pre-pandemic levels.
The airline is currently operating 65% of its 2019 routes and achieving a load factor of 85%, and going ahead in 2023, the airline expects to maintain a load factor of 80%.
It is currently flying 49 aircraft and is taking delivery of six leased Airbus A350s in April while also looking to offload 22 aircraft as part of its long-term business plan. This fleet expansion will help the airline to return to 80% of the pre-pandemic capacity.
Overall, Thai Airways expects to resume 65% of pre-COVID routes this year and 85% in 2025.