Thai Airways Q3/69 Performance and 2027 Recovery Outlook

Post Today•Economy•49m ago

Reader Briefing

Thai Airways reported a net loss in Q3/2026 due to special items but showed a normalized profit that exceeded market expectations.

•Thai Airways reported a net loss of 432 million baht in Q3/2026.
•The normalized profit for Thai Airways in Q3/2026 was 690 million baht.
•Asia Plus Securities research predicts a normalized profit recovery for Thai Airways to 18.6 billion baht in 2027.
•Asia Plus Securities has set a fair value for Thai Airways shares at 6.00 baht for the year 2027.

•Thai Airways reported a net loss of 432 million baht in Q3/2026, impacted by approximately 1.2 billion baht in special items, including 559 million baht in foreign exchange losses and 641 million baht in flood-related compensation expenses.
•The normalized profit of Thai Airways for Q3/2026 was 690 million baht, which was higher than the 555 million baht estimated by Asia Plus Securities and the 504 million baht estimated by the market.
•Total revenue for Thai Airways in Q3/2026 was 48 billion baht, increasing 3% from the previous quarter and 13% from the same period last year.
•Operating expenses for Thai Airways in Q3/2026 rose to approximately 46 billion baht due to increased staff costs and scheduled aircraft maintenance expenses.
•The cabin factor for Thai Airways recovered to 76.5% in Q3/2026, up from 71.5% in Q2/2026.
•Asia Plus Securities expects normalized profit for Thai Airways to gradually recover from Q4/2026 to Q1/2027 due to the high season and decreasing maintenance costs.
•Asia Plus Securities provides a Tactical Buy recommendation for Thai Airways shares as the stock price has decreased by over 26% year-to-date.
•Asia Plus Securities forecasts the normalized profit of Thai Airways for 2027 to be 18.6 billion baht, a 31% growth from the previous year.

Full article content is available on the original source.

Thai Airways International Public Company Limited(บริษัท การบินไทย จำกัด (มหาชน))ℹ️

An aviation company that reported a net loss in Q3/2026 but is projected for recovery in 2027.

Asia Plus Securities(บล.เอเซีย พลัส)

A securities firm whose research department analyzed the financial performance and fair value of Thai Airways.

The source of jet fuel price data used in the analysis.

Middle East(ตะวันออกกลาง)ℹ️

A region where conflict stability could potentially ease jet fuel cost pressures.