Transportation
Thai Airways International Public Co. Ltd.
- 9.80 THB
- +0.25
- +2.62%
Thailand
Sep 16, 2019Ticker
BKK(THAI)Prev. close
9.55Market cap (THB)
20,845.47MMarket cap (USD)
683.23MShares
2,182.77M
In the news
- Asian airlines' cargo operations hit hard by US-China trade war Sep 11, 2019
- Loss-making Thai flag carrier aims for $5bn fleet renewal Aug 14, 2019
- Thailand's $7bn railway draws Siemens and Bombardier May 8, 2018
- Thai industry goes high-tech with Alibaba and Airbus set to move in May 3, 2018
- Asia Inc. comes roaring back in 2017 Mar 16, 2018 See more articles on Thai Airways International Public Co. Ltd.
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 2018 | THB | USD |
| Revenue | 195,965.14M | 6,061.91M |
| Gross Profit | 10,557.60M | 326.58M |
| Operating income | -6,564.62M | -203.06M |
| Income before tax | -11,083.02M | -342.83M |
| Net income | -11,625.16M | -359.60M |
| EBITDA | 12,480.73M | 386.07M |
| Diluted EPS | -5.32 | -0.16 |
| Dividends Per Share | 0 | 0 |
| Total Assets | 268,721.19M | 8,253.10M |
| Total liabilities | 248,264.86M | 7,624.84M |
| Total equity | 20,329.04M | 624.35M |
| Operating cash flow | 14,043.82M | 434.42M |
| Currency in THB | Currency in USD |
Historical Data
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 188,367.61M | 182,727.36M | 178,312.50M | 189,856.98M | 195,965.14M |
| Gross Profit | -2,403.74M | 15,564.63M | 20,910.50M | 23,605.73M | 10,557.60M |
| Operating income | -18,248.78M | -1,254.44M | 6,014.01M | 6,311.26M | -6,564.62M |
| Income before tax | -16,814.67M | -14,248.18M | -837.97M | -2,732.90M | -11,083.02M |
| Net income | -15,611.62M | -13,067.67M | 15.14M | -2,107.34M | -11,625.16M |
| EBITDA | 2,285.75M | 17,878.34M | 24,004.84M | 23,332.73M | 12,480.73M |
| Diluted EPS | -7.15 | -5.99 | 0.01 | -0.97 | -5.32 |
| Dividends Per Share | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 307,267.17M | 302,471.05M | 283,123.87M | 280,774.54M | 268,721.19M |
| Total liabilities | 265,971.24M | 269,545.36M | 249,535.68M | 248,761.74M | 248,264.86M |
| Total equity | 41,215.12M | 32,855.95M | 33,501.37M | 31,911.08M | 20,329.04M |
| Operating cash flow | 1,017.45M | 13,037.69M | 20,143.30M | 19,899.33M | 14,043.82M |
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 5,798.85M | 5,331.57M | 5,054.12M | 5,594.96M | 6,061.91M |
| Gross Profit | -73.99M | 454.14M | 592.69M | 695.64M | 326.58M |
| Operating income | -561.78M | -36.60M | 170.46M | 185.98M | -203.06M |
| Income before tax | -517.63M | -415.73M | -23.75M | -80.53M | -342.83M |
| Net income | -480.60M | -381.28M | 0.42M | -62.10M | -359.60M |
| EBITDA | 70.36M | 521.65M | 680.39M | 687.60M | 386.07M |
| Diluted EPS | -0.22 | -0.17 | 0.00 | -0.02 | -0.16 |
| Dividends Per Share | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 9,339.42M | 8,405.47M | 7,906.16M | 8,615.35M | 8,253.10M |
| Total liabilities | 8,084.23M | 7,490.49M | 6,968.22M | 7,633.06M | 7,624.84M |
| Total equity | 1,252.73M | 913.04M | 935.51M | 979.16M | 624.35M |
| Operating cash flow | 31.32M | 380.41M | 570.94M | 586.42M | 434.42M |
Valuation Measures
| Dec 2018 | |
| PER | -- |
| ROA | -4.23% |
| ROE | -44.50% |
| Operating margin | -3.34% |
| Profit margin | -5.93% |
Key executives
- President & Director: Sumeth Damrongchaitham
- Executive Vice President-Operations: Pongtorn Thepkanjana
- Executive Vice President-Finance &Accounting: Nattapong Samit-Ampaipisarn
- Executive Vice President-Technical: Surachai Piencharoensak
- EVP-Corporate Strategy & Sustainable Development: Krittaphon Chantalitanon
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%)
- Dimensional Fund Advisors LP (1.3%)
- JITJUAJUN SONGSAK (1.3%)
- ARCHAVAKULTHEP EAM (0.7%)
- KANATHANAVANICH VICHAI (0.6%)
- Research Affiliates LLC (0.2%)
- Norges Bank Investment Management (0.1%)
Contact Details
- Website:http://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.
- Thai Amadeus Southeast Asia Co. Ltd.
- Donmuang International Airport Hotel Co. Ltd.
Competitors
- Bangkok Airways Public Co., Ltd.
- Nok Airlines Public Co., Ltd.
- Eva Airways Corporation
- Singapore Airlines Ltd.
- Vietjet Aviation JSC
- Deutsche Lufthansa AG
- China Southern Airlines Company Limited Class H
- China Airlines Ltd.
- PT Garuda Indonesia (Persero) Tbk Class B
- AirAsia Group Bhd.
- Cebu Air Inc.
- PAL Holdings, Inc.
- JG Summit Holdings Inc.
- Asia Aviation Public Co., Ltd.
Copyright © 2019 FactSet Research Systems Inc. All rights reserved.
Last Updated on 16 Sep, 2019