Thai Airways returns to profit amidst strong travel recovery

Thai Airways has returned to profit in Q1 of 2022 with a net income of 12.51 billion baht in the Q1 of 2023, a significant rise over net loss of 3.25 bn baht incurred during the same time last year.  Thai Airways saw its operating revenue in Q1 increase by three times to 41.5 billion baht, up from 11.2 billion baht recorded in 2022. Thai Airways is set to exit court-supervised debt restructuring towards the end of 2024. The airline filed for bankruptcy protection in 2020 before the majority of its creditors agreed to extend terms under a US$5.3 billion