Cleared for Takeoff Again — Thai Airways rejoins the Stock Exchange of Thailand on August 4 after completing its court-supervised business rehabilitation. PATTAYA, Thailand – Thai Airways International Public Company Limited is preparing to return to trading on the Stock Exchange of Thailand (SET) on August 4, 2025, marking a new chapter of stable and sustainable growth after emerging from court-led business rehabilitation. Following a Central Bankruptcy Court order on June 16 lifting its rehabilitation status, the airline is now operating fully as a private company. The decision comes after over four years of comprehensive restructuring triggered by prolonged financial losses and the impact of the pandemic. Thai Airways entered rehabilitation in 2021 and has since made significant progress under a transformation plan. Key changes include resizing and modernizing the fleet, expanding routes and frequencies, enhancing customer service, integrating digital technologies, and converting debt into equity. The airline has consistently posted quarterly operating profits since 2023 and is now among the top three global carriers in terms of operating margin, according to Airline Weekly. The company has fulfilled all four rehabilitation plan requirements: recapitalization, compliance without default, strong earnings (EBITDA of 40.3 billion baht vs. 20 billion target), and a positive shareholder equity balance. Lavaron Sangsnit, newly appointed Chairman of Thai Airways, leads the airline’s bold comeback with a focus on innovation, efficiency, and global growth. Under a newly appointed board led by Chairman Lavaron Sangsnit, Thai Airways aims to position itself among the world’s leading airlines. Plans include expanding its fleet to 93 aircraft by 2026 and to 150 by 2033, with fewer aircraft models and engine types to optimize efficiency. Service upgrades will continue, including the introduction of Royal Silk Class flatbeds on Airbus A321neos, in-flight entertainment, high-speed Wi-Fi, and new catering concepts. A redesigned digital booking system is also set to launch in August. For the fiscal year ending December 2024, Thai Airways reported revenue of 187.9 billion baht (excluding one-time items), a 16.7% increase year-on-year. Q1 2025 revenue reached 51.6 billion baht, up 12.3% from the previous year, with an EBIT margin of 26.5%. Shareholders’ equity now stands at 55.4 billion baht, and the interest-bearing debt to equity ratio has improved to 2.23—down from 12.52 at the end of 2019. Thai Airways says its return to the stock exchange is not the end of its transformation, but a new beginning. The airline vows to maintain agility, strengthen risk management, and pursue continuous innovation as it seeks long-term, sustainable growth and global recognition. New Flight Path — With debt slashed and equity restored, Thai Airways eyes long-term growth and world-class status under fresh leadership. From Crisis to Comeback — After years of restructuring, Thai Airways posts strong profits and plans global expansion with a modern fleet and upgraded services. Thai Airways enhances passenger experience with Royal Silk Class flatbeds, modern in-flight entertainment, high-speed Wi-Fi, and a new digital booking system launching this August.