Thai Airways International Public Company Limited (SET: THAI) has announced its 2Q25 consolidated financial statement through the Stock Exchange of Thailand as follows:
| Quarter | 2Q25 | 2Q24 |
| Net Profit (Loss) Million Baht |
12,124.23 | 306.14 |
| Earning Per Share (Baht) |
0.4300 | 0.1400 |
| % Change | 3,860.38 | |
| 6 Months | 6M25 | 6M24 |
| Net Profit (Loss) Million Baht |
21,955.98 | 2,715.68 |
| Earning Per Share (Baht) | 0.78 | 1.24 |
| % Change | 708.49 | |
THAI reported a net profit of THB 12,124 million in 2Q25, a significant increase from THB 306 million in the same period of last year and THB 9,831 million in the previous quarter.
THAI and its subsidiaries had total revenues (excluding one-time items) of THB 44,828 million, an increase of THB 847 million (+1.9%) higher than the same period last year, mainly from an increase in transportation revenue of THB 284 million (+0.7%), with an increase in passenger revenue by THB 54 million (+0.1%).
Operating profit excluding one-time gain in 2Q25 was THB 6,788 million, a 500% increase from THB 1,129 million in 2Q24. The company reported 2Q25 FX gain of THB 1,190 million and extra-ordinary items of THB 4,980 million from gain on termination of aircraft lease agreements. Meanwhile, EBITDA in the second quarter was THB 13,408 million, an increase of 45% from THB 9,250 million in the same quarter last year.
Total expenses (excluding one-time items) decreased by THB 3,408 million (-9.0%) from the same period last year. This was primarily due to a decrease in aircraft fuel expenses from the reduction in average fuel prices, even though the fuel consumption increased in line with the increased number of flights. Aircraft repair and maintenance costs and other expenses also decreased.
As of June 30, 2025, THAI operated a total of 78 aircraft. In the second quarter of 2025, THAI had an average aircraft utilization of 13.5 hours/aircraft/day, with a total of 3.97 million passengers, an increase of 4.2% from the same period last year. Available Seat Kilometers (ASK) increased by 1,559 million (+9.7%) and Revenue Passenger Kilometers (RPK) increased by 1,821 million (+15.6%) from the same period last year, due to THAI resumed flights on European routes including Oslo, Milan and Brussels, combined with increased flight frequencies on regional routes, to accommodate the rising passenger travel demand. This resulted in THAI’s flight network covering 62 destinations in 27 countries worldwide, including 8 domestic destinations (excluding Bangkok). The average cabin factor increased from the same period last year which was 73.2% to 77.0%, due to an optimized route network and the establishment of codeshare partnerships.
The average passenger yield (including fuel and insurance surcharges, excluding excess baggage revenue) was 2.66 THB, decreased by 13.4% from the same period last year. Available Dead Load Ton-Kilometers (ADTK) increased by 108 million (+12.5%) and Revenue Freight Ton-Kilometers (RFTK) also increased by 65 million (+14.7%) from the same period last year. The average freight load factor increased from the same period last year which was 51.5% to 52.4%. The average freight yield (including fuel and insurance surcharges, excluding mail revenue) was 8.62 THB, decreased by 7.5%, from the same period last year.
