Thai Airways aims to return to the Thai stock exchange in 2025

Thai Airways aims to resume trading on the Stock Exchange of Thailand in the second quarter of 2025.

The airline aims to finalize its capital restructuring plan by the end of the year and will then seek to have the company's rehabilitation cancelled.

See: Thai Airways' astonishing journey from bankruptcy to recovery

The restructuring focuses on the conversion of debt into equity and rights and the sequential offering of newly issued shares to shareholders, employees and investors.

In the second quarter of 2024, the company and its subsidiaries recorded a total revenue of 43.9 billion baht, 17.7% higher than in the same period of the previous year.

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Net profit amounted to 314 million baht, lower than the two billion baht profit recorded in the second quarter of last year.

Thai Airways planes.

The high total expenses of 38 billion baht were attributed to a decline in profit, which increased 32.1% from the previous year due to variable costs.

The company plans to submit the registration statement for the sale of securities and its draft prospectus for a capital restructuring to the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET) next month.

The company will also file a petition with the Central Bankruptcy Court to annul the company's rehabilitation and will resume trading of its shares on the SET during the second quarter of 2025.

The final schedule for all processes is subject to the company's procedure and review by the SEC, SET, the Central Bankruptcy Court and other relevant authorities.

Before Thai Airways filed a petition to initiate rehabilitation proceedings in bankruptcy court in May 2020, the government had ordered the Finance Ministry to reduce its stake in the national carrier by at least 50%.

Therefore, the company is no longer considered a state-owned enterprise.

See: Thai Airways will always be Thailand's flagship airline

This has allowed the company to benefit from a certain flexibility in its management, improve its competitiveness, effectively transform its activities and undertake actions within the framework of the company's rehabilitation plan, a source said.

The company's measures include downsizing, fleet and engine pooling, cost reductions and network expansion, the source said.

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Source: Bangkok Post