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Transportation

Thai Airways International Public Co. Ltd.

  • 14.50 THB
  • +1.20
  • +9.02%
  • Thailand
    Aug 14, 2018
  • Ticker
    BKK(THAI)
  • Prev. close
    13.30
  • Market cap (THB)
    29,030.86M
  • Market cap (USD)
    873.10M
  • Shares
    2,182.77M

Company Background

Thai Airways International is Thailand's state-owned national flag carrier. More than half of its shares are owned by the Ministry of Finance, and the company is under the administration of the Ministry of Transport. The company was established by the government in 1960 as a joint venture between the now-defunct domestic carrier Thai Airways and Scandinavian Airlines System. SAS provided technical and marketing expertise but sold all its holdings to the Thai government in 1977. The company merged with Thai Airways in 1998.

Most of its board members have ties to the government or the air force. Former Chairman Prajin Juntong, for example, was commander of the air force and is now a cabinet member of the country's military government. Vice Chairman Areepong Bhoocha-oom, who succeeded Prajin as acting chairman, has held various high-ranking positions in the Finance Ministry, and is now permanent secretary of the energy ministry.

The company is one of the five founding airlines of the Star Alliance, the world's largest airline partnership. It also runs Thai Smile Airways, a wholly owned low-cost carrier, and holds about 40% stake in Nok Air, the country's second-largest budget airline.

Business Summary

Thai Airways International Public Co. Ltd. engages in the airlines business that transport passengers, goods, parcels, and postal through air transportation. It operates through the following segments: Air Transportation Activities, Business Units, and Other Activities. The Air Transportation Activities segment comprises of passenger, freight, and mail services. The Business Units segment involves transportation activities, which include cargo and mail commercial, ground customer services, ground support equipment services, and catering services. The Other Activities segment are transportation supporting activities, which include dispatch services, sales on board, thai shop, technical services, and operation of subsidiaries. The company was founded on August 24, 1959 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2017 THBUSD
Revenue189,856.98M5,594.96M
Gross Profit23,605.73M695.64M
Operating income6,311.26M185.98M
Income before tax-2,732.90M-80.53M
Net income-2,107.34M-62.10M
EBITDA23,332.73M687.60M
Diluted EPS-0.97-0.02
Dividends Per Share00
Total Assets280,774.54M8,615.35M
Total liabilities248,761.74M7,633.06M
Total equity31,911.08M979.16M
Operating cash flow19,899.33M586.42M
Currency in THBCurrency in USD

Historical Data

 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 206,336.24M 188,367.61M 182,727.36M 178,312.50M 189,856.98M
Gross Profit 15,711.84M -2,403.74M 15,564.63M 20,910.50M 23,605.73M
Operating income -3,780.32M -18,248.78M -1,254.44M 6,014.01M 6,311.26M
Income before tax -13,765.44M -16,814.67M -14,248.18M -837.97M -2,732.90M
Net income -12,047.37M -15,611.62M -13,067.67M 15.14M -2,107.34M
EBITDA 16,245.35M 2,285.75M 17,878.34M 24,004.84M 23,332.73M
Diluted EPS -5.52 -7.15 -5.99 0.01 -0.97
Dividends Per Share 0 0 0 0 0
Total Assets 307,084.73M 307,267.17M 302,471.05M 283,123.87M 280,774.54M
Total liabilities 250,166M 265,971.24M 269,545.36M 249,535.68M 248,761.74M
Total equity 56,829.64M 41,215.12M 32,855.95M 33,501.37M 31,911.08M
Operating cash flow 21,205.61M 1,017.45M 13,037.69M 20,143.30M 19,899.33M
 Dec 2013Dec 2014Dec 2015Dec 2016Dec 2017
Revenue 6,714.65M 5,798.85M 5,331.57M 5,054.12M 5,594.96M
Gross Profit 511.29M -73.99M 454.14M 592.69M 695.64M
Operating income -123.02M -561.78M -36.60M 170.46M 185.98M
Income before tax -447.95M -517.63M -415.73M -23.75M -80.53M
Net income -392.04M -480.60M -381.28M 0.42M -62.10M
EBITDA 528.66M 70.36M 521.65M 680.39M 687.60M
Diluted EPS -0.17 -0.22 -0.17 0.00 -0.02
Dividends Per Share 0 0 0 0 0
Total Assets 9,345.24M 9,339.42M 8,405.47M 7,906.16M 8,615.35M
Total liabilities 7,613.08M 8,084.23M 7,490.49M 6,968.22M 7,633.06M
Total equity 1,729.44M 1,252.73M 913.04M 935.51M 979.16M
Operating cash flow 690.07M 31.32M 380.41M 570.94M 586.42M

Valuation Measures

Dec 2017
PER--
ROA-0.74%
ROE-6.44%
Operating margin3.32%
Profit margin-1.10%

Key executives

  • President & Director: Usanee Sangsingkeo
  • Executive Vice President-Operations: Pongtorn Thepkanjana
  • Executive Vice President-Finance & Accounting: Narongchai Wongthanavimok
  • Executive Vice President-Technical: Surachai Piencharoensak
  • EVP-Human Resources & Compliance: Kanok Thongpurk

Shareholders

  • Government of Thailand (51.0%)
  • Krung Thai Asset Management Public Co., Ltd. (7.5%)
  • MFC Asset Management Public Co., Ltd. (Investment Management) (7.5%)
  • Government Savings Bank of Thailand (Investment Portfolio) (2.1%)
  • The Vanguard Group, Inc. (1.5%)
  • Dimensional Fund Advisors LP (1.3%)
  • JITJUAJUN SONGSAK (0.8%)
  • ARCHAVAKULTHEP EAM (0.7%)
  • KANATHANAVANICH VICHAI (0.6%)
  • Norges Bank Investment Management (0.4%)

Contact Details

  • Website:http://www.thaiairways.com
  • Address: 89 Vibhavadi Rangsit Road, Chom Phon, Chatuchak, Bangkok, 10900, Thailand
  • Phone: +66.2.545.1000

Related Companies

  • Thai Airways International Employees Provident Fund
  • Thai Smile Airways Co. Ltd.
  • Tour Eurng Luang Co. Ltd.
  • Thai Flight Training Co., Ltd.
  • Thai Airways International
  • Wingspan Services Co. Ltd.
  • Mudman Public Co. Ltd.
  • Thai Amadeus Southeast Asia Co. Ltd.
  • Donmuang International Airport Hotel Co. Ltd.

Competitors

  • Nok Airlines Public Co., Ltd.
  • Vietjet Aviation JSC
  • Bangkok Airways Public Co., Ltd.
  • China Eastern Airlines Corporation Limited Class H
  • PT Garuda Indonesia (Persero) Tbk Class B
  • China Southern Airlines Company Limited Class H
  • Asiana Airlines Inc.
  • Cebu Air Inc.
  • China Airlines Ltd.
  • PAL Holdings, Inc.
  • AirAsia Group Bhd.
  • JG Summit Holdings Inc.
  • Asia Aviation Public Co., Ltd.
Last Updated on 14 Aug, 2018

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