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Thai Airways' restructuring lifts it to first profit in 5 years

Tourism reopening comes too late to improve airline's operating earnings

Thai Airways reported a net profit in 2021, thanks to one-off contributions from asset assets and cuts to employee benefits. (Photo by Akira Kodaka) 

BANGKOK -- Thai Airways International reported a full-year net profit in 2021, its first in five years, as one-off contributions from asset sales and cuts in employee benefits helped its bottom line.

But the Thai flag carrier's operating performance has yet to show signs of a sustained recovery despite the government scrapping quarantine requirements for vaccinated international travelers

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