Thai Airways posts first profit in pandemic thanks to restructure

But slow recovery in passenger demand clouds path to rehabilitation

20210816 Thai Airways

The delta variant outbreaks in Southeast Asia including Thailand throw a pall over the company's hopes for a recovery in travel. © Reuters

MASAYUKI YUDA, Nikkei staff writer

BANGKOK -- Thai Airways International reported a net profit in the first half of 2021, its first since the COVID-19 pandemic hit, thanks to a restructure of its business as part of a rehabilitation plan, although uncertainty still clouds its passenger flight services.

Thai Airways posted on Monday a consolidated net profit of 11.1 billion baht ($333 million), reversing a 28 billion baht loss it recorded in the same period in the last year. This was due to contributions to its bottom line from selling off assets and adjusting employees' benefits.

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