Thai Airways shares skyrocketed to over 200% on Monday as it resumed trading for the first time in five years. Investors have welcomed the carrier’s recovery and strategic growth plans, with its share price soaring to 231%.
Thai Airways Share Price Soars
Thai Airways entered rehabilitation in 2020, facing over THB 400 billion in debt. Since then, it has slashed debt to THB 190 billion and trimmed its fleet from 103 to 78 aircraft. Simultaneously, the company also reduced its workforce and overhauled operations to restore profitability.
Notably, the airline reported a net profit of US$9.8 billion in Q1 2025—a 300% increase year-over-year. Furthermore, it posted a quarterly revenue of THB 51,625 million, up 12.3% versus the same period last year.
Investor Confidence Drives Rally
Thai Airways relisted at THB 10.50 per share, marking a THB 7.18 increase from its closing price of THB 3.32. The rally marked the company’s successful exit from restructuring and renewed investor confidence.
“THAI is now strategically positioned for robust, stable, and sustainable growth. This is driven by a steadfast commitment to elevating operational standards and service quality, coupled with a strong emphasis on corporate governance,” the carrier said in a statement.
“This significant milestone follows the successful completion of our business rehabilitation, signaling a pivotal new chapter for the airline,” said chief executive Chai Eamsiri, speaking to Bangkok Post.
Moreover, analysts echoed this sentiment. In particular, Tisco Securities initiated a “BUY” rating with a price target of THB 10.40, citing strong earnings potential and an efficient balance sheet.
Thai Airways Fleet to Double
Alongside the relisting, Thai Airways unveiled a bold expansion plan. The airline aims to operate 150 aircraft by 2033—almost double its current fleet of 78. Meanwhile, by 2026, it expects to have 93 aircraft in operation.
Overall, the future fleet will include 98 wide-body and 52 narrow-body aircraft. Correspondingly, this strategy supports rising travel demand across Asia and beyond. Additionally, the carrier will simplify the fleet from eight aircraft types to four, reducing operational complexity.
Investment in Modernization
To meet its goals, Thai Airways has launched a five-year investment plan worth THB 170 billion. Key areas include aircraft acquisitions, cabin refurbishments, and digital upgrades. In fact, cabin upgrades alone will cost THB 20 billion and begin in 2027.
At the same time, the airline is expanding hangar facilities and maintenance capabilities. In summary, these improvements aim to boost efficiency and lower costs over the long term.
Strategic Goals of Thai Airways
Thai Airways also seeks to raise its market share at Suvarnabhumi Airport from 26% to 35% by 2029. Moreover, it plans to grow its premium-segment revenue from 0.5% to 10% by 2033.
To support this, the airline recently partnered with Turkish Airlines to expand routes to Europe without increasing aircraft. Overall, this move reflects a smart use of strategic alliances.
Conclusion
In summary, the dramatic share-price surge of Thai Airways reflects strong investor belief in its recovery and growth. With a clear plan to double its fleet and modernize operations, the airline appears ready to reclaim its position as a regional leader.
Photo by Bornil Amin on Unsplash
