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    THAI Announces Six-Month Operational Performance Results for 2021 during its Business Rehabilitation

    16 August 2021

    Thai Airways International Public Company Limited (THAI), announces consolidated financial statements for the first six months in 2021. THAI and its subsidiaries reported the operating loss of THB 14,335 million. The total revenue was 10,220 million, lower than last year’s THB 30,273 or 74.8%. A decrease in both passenger and cargo revenue was THB 30,486 million (84.2%) and a decrease of THB 1,417 million (35.5%) was from other services. Moreover, other incomes have increased to THB 1,630 million. Total expenses amounted to THB 24,555 million which was THB 34,246 million (58.2%) lower than the previous year, mainly due to the variable operating expenses. However, THAI and its subsidiaries had one-time transactions with net profit totalled THB 25,889 million consisting of profits following the Rehabilitation Plan such as profit from debt restructuring, sale of shares in its subsidiaries and adjustment of aircraft lease capital. Consequently, THAI and its subsidiaries reported THB 11,121 million of net profit. Profit attributable to owners of the parent company amounted to THB 11,125 million. Profit per share was THB 5.10.

    As of June 30, 2021, total assets of THAI and its subsidiaries were THB 168,582 million, a decrease of THB 40,715 million (19.5%) from December 31, 2020. Total liabilities were THB 285,066 million, a decrease by THB 52,896 million (15.7%) from December 31, 2020. The shareholders’ equity of THAI and its subsidiaries amounted to THB -116,484 million, a negative decrease from December 31, 2020, amounting to THB 12,181 million.

    Under the Business Rehabilitation plan, THAI is operating to resolve and improve its business structure as well as to generate revenue from non-air businesses and continually reduce expenses such as restructuring and downsizing the organization and cutting down operating costs in other areas. THAI aims to maintain financial liquidity and seek for new loans until the airline industry situation resumes to its normal operation.