Thai Airways International Public Company Limited (SET: THAI) announced its 2021 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Yearly | 2021 | 2020 |
| Net Profit (Loss) Million Baht |
55,118.210 | (141,170.737) |
| Earning Per Share (Baht) | 25.25 | (64.67) |
| % Change | 139 | |
THAI reported net profit of THB55,113 million in 2021 while last year reported a net loss of THB141,180 million. Profit per share was THB 25.25 compared to last year’s loss per share was THB 64.67. EBITDA was THB-8,846 million decreased THB2,473 million from last year with an EBITDA Margin equal -37.3% compared with the previous year was -23.4 %. The changeover to net profit was significant as a result of the debt restructuring gain.
Total revenue was THB23,747 million, lower than last year’s by THB24,684 million (51%), mainly due to a decrease in passenger and cargo revenue by THB24,599 million (59.9%), a decrease of THB1,545 million (23.2%) from other services due to international travel restrictions both in Thailand and other countries. Moreover, other incomes increased THB1,460 million due to revenue from offsetting the outstanding monthly service and maintenance fees under the contract and service fee for engine maintenance under a dispute settlement agreement. Total expenses (excluding the one-time items) totaled THB43,449 million, THB40,396 million (48.2%) lower than last year.
Following the rehabilitation plan, THAI extended the repayment period by moratorium principal and interest for 2-3 years. THAI reduced the debt burden in accordance with the original obligation and reduced the obligation under the aircraft lease/purchase contract. THAI increased payment options according to the action framework specified in the business rehabilitation plan by such adjustments, THAI recognized gains from debt restructuring in 2021 totaling THB61,807 million.
