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Thai Airways posts worst-ever $4.7bn net loss due to pandemic

Stock exchange to consider possible delisting as shareholders' equity turns negative

Uncertainties loom for Thai Airways, including how fast the world will recover from the pandemic and how travelers will behave in the post-COVID era.   © Reuters

BANGKOK -- Thai Airways International reported its largest-ever net loss of 141 billion baht ($4.7 billion) in 2020 on Thursday, ahead of the submission of its court-supervised rehabilitation plan next Tuesday.

The Thai flag carrier's net loss grew twelvefold compared with the previous year, its fourth consecutive annual loss. The COVID-19 pandemic disrupted international travel and logistics, resulting in the company's total operating revenue plummeting 74% to 48.3 billion baht.

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