THAI to restart flights on more routes to Europe, eyes THB180 bn revenue
National flag carrier Thai Airways International Plc (THAI) is planning to restore flight routes to Europe that have been suspended since Covid-19 outbreak, hoping to secure 180 billion baht revenue this year.
THAI CEO Chai Eamsiri said on Friday that of the targeted revenue, 160 billion baht would come from airline operations, with average cabin factor in 2024 at 75%.
“We are confident that the EBITDA [earnings before income, tax, depreciation and amortisation] this year will exceed 20 billion baht, in line with the conditions to exit the business rehabilitation plan,” he said.
The airline filed for bankruptcy protection in late 2019 after reporting massive debts of 245 billion baht.
The Covid-19 outbreak forced THAI to cancel almost all of its scheduled flights to Europe, including London, Frankfurt, Paris, Brussels, Copenhagen, Oslo, Moscow, Stockholm, Rome, Milan, and Vienna.
On July 1, THAI restarted two routes to Europe: Milan, Italy and Oslo, Norway for the first time in four years.
Flight TG940 departs Bangkok daily at 12.40am and arrives in Milan at 7.35am (local time), while TG941 departs Milan daily at 2.05pm (local time) and arrives in Bangkok at 5.55am.
Meanwhile, flight TG954 departs Bangkok daily at 12.55am and arrives in Oslo at 7.25am (local time), while TG955 departs Oslo daily at 2.15pm (local time) and arrives in Bangkok at 6.15am.
The CEO added that the airline aims to restart flights to Brussels in the fourth quarter of this year, as the city is one of the most important flight hubs in Europe.
He said Europe is also the biggest source of revenue for the airline, as the region contributes around 34.5% of THAI’s revenue, followed by North Asia (32.8%), West Asia and the Middle East (11.9%), Australia (7.2%), ASEAN (7.7%) and domestic routes (5.9%).
“In the fourth quarter, we will also open a new route to Amritsar, India, which is a high potential market,” he said.
