BANGKOK, 21 August 2026: Thai Airways International Public Company Limited reports its second quarter of 2026, with total revenue of THB48,621 million, an increase of THB3,793 million, or 8.5%, from the same period last year.
The average passenger revenue per unit (including compensation for fuel and insurance premiums excluding excess weight) increased by 20.3% from the same period last year.
The company’s total expenses (excluding one-time events) increased by 29.7% to THB44.930 billion from the same period last year, driven by the rise in aircraft engine oil prices from the Middle East unrest, with the average oil price rising 104.6% from the same period last year, resulting in a pre-tax operating profit of THB3,691 million and a pre-tax operating EBIT Margin of 17.5%, reflecting its ability to manage operations and maintain the company’s liquidity at an appropriate level.
The company reports a total financial capital of THB3,165 million and a net profit of THB335 million from one-time events, resulting in a net profit of THB1,537 million in the second quarter of 2026, compared to a net profit of THB12,134 million and an EBITDA of THB8,182 million in the previous year.
Half-year performance
As of 30 June 2026, the company’s total assets increased from 31 December 2025, to THB322,085 million, an increase of THB18,026 million or 5.9%, with total liabilities of THB240,252 million, an increase of THB12,105 million or 5.3%, and total shares of THB81,833 million, an increase of THB5,921 million or 7.8%.
As of 30 June 2026, the company’s total cash and other cash equivalents totalled THB123,757 million.
The company has 84 aircraft in operation, with an average aircraft usage rate of 12.9 hours per day, totalling 3.66 million passengers. Total passenger (ASK) production capacity is 16,778 seat-kilometres, down 4.4% from the same period last year due to reduced flights amid the Middle East crisis. Total passenger (RPK) transportation capacity was 11,993 million passenger-kilometres, down 11.3%, resulting in an average cabin factor of 71.5%, down from 77.0% in the same period last year.
For the first 6 months of 2026, the company’s total revenue (excluding one-time events) increased by THB99,650 million, up 3,198 million or 3.3% from the same period last year, with total expenses (excluding one-time events) increasing by THB82,213 million, up 14.4% from the same period last year. The company’s operating profit before financial costs (excluding one-time events) was THB17,437 million, and total financial costs were THB6,152 million. The main reason was profit from the cancellation and change of aircraft lease contracts, resulting in a net profit of THB1,424 million for the first 6 months of 2026.
In H1 2026, the company received five narrow-body Airbus A321neo aircraft, 3 wide-body Boeing 787-8 aircraft, and 1 Boeing 787-9 aircraft to enhance its fleet capabilities and support future flight expansion.
(Source: THAI).
