top of page

Industry News

THAI reports revenue boost in Q1

May 15, 2023

Thai Airways International (THAI) has posted a net profit of 12.5 billion baht (US$368 million) for the three months to March 31 following a net loss of 3.2 billion baht in the same quarter in 2022. Revenue increased 271.2%, to 41.5 billion baht, THAI said in a regulatory filing. Costs were 98.4% higher at 28.5 billion baht. The Star Alliance member said an “outstanding increase” in passenger revenue following the resumption of more flights and frequency on preferred routes to Japan, South Korea and China produced the results.

As of 31 March 2023, THAI had 65 operational aircraft with average aircraft utilisation of 12.3 hours daily. Traffic production (ASK) increased by 121.4%, while passenger traffic (RPK) increased by 469.2%, affecting an average cabin factor of 83.5%, higher than the previous year’s 32.5%.


Thai AirAsia parent turns 2022 loss to US$10.6 million profit

May 15, 2023

Asia Aviation Plc (AAV), the owner of Thai AirAsia (TAA), has reported a net profit of 359.4 million baht (US$10.6 million) for the three months to March 31 compared with a net loss of 2.4 billion baht in the same months in 2022. Revenue increased 369%, to 9.8 billion baht, AAV said in a regulatory filing. Costs were 83% higher at 8.8 billion baht. “Growth has continued in 2023 from the preceding quarter indicating the tourism and aviation industries are trending positively,” AAV and TAA CEO, Santisuk Klongchaiya, said. TAA’s target of flying 20 million passengers in calendar 2023, double the customers it transported last year, is unchanged, the LCC said. “TAA plans to proactively add flights to domestic and international destinations from our Don Mueang, Suvarnabhumi, Chiang Mai and Phuket flight bases, especially to China where demand for travel is high.”


Bangkok Airways returns to profit in March quarter

May 12, 2023

Bangkok Airways has reported a net profit of 875.1 million baht (US$26 million) for the three months to March 31, returning to the black from a net loss of 1 billion baht in the same months in 2022. Revenue was up 238.2%, to 5.7 billion baht, Bangkok Airways said in a regulatory filing. Costs increased by 79.6%, to 4.5 billion baht.


Vietjet reports strong Q1 performance

May 12, 2023

Vietjet Aviation Joint Stock Company has recorded its positive performance in Q1/2023, resulting from stable domestic flight operation and expansion of the international network.

According to the Q1/2023 financial statements, Vietjet’s air transport revenue reached VND12,880 billion (USD553 million) while the after-tax profit was VND168 billion (USD7.2 million), increased by 286% and 320% YoY respectively. Ancillary revenue, in particular, was reported at VND4,312 billion (USD185 million), accounting for more than 33% of the revenue.

In the first three months of the year, Vietjet has operated 31,300 flights and transported nearly 5.4 million passengers, growing by 57% and 75% YoY respectively. The airline’s load factor averaged 85%, while the technical reliability rate was 99.59%.

Chinese arrivals to Thailand could soar in May

May 5, 2023

Chinese airlines are expected to increase the number of flights to Thailand to 430 per week starting on June 1, according to the Civil Aviation Authority of Thailand (CAAT). International flights are on the rise again, especially from China, but the office can so far grant only 10%-20% of requests due to the limited capacity of Suvarnabhumi airport.

Suvarnabhumi to become Thailand’s first ‘Green’ Airport

May 5, 2023

The Airports of Thailand Plc (AOT) plans to develop Suvarnabhumi International Airport into the first environmentally friendly, or “Green” airport in Thailand, with the goal to create renewable energy for airport use to reduce electricity costs by around 20-30 percent per year. The AOT expects the airport to fully rely on solar panels and renewable energy in around four years. 


Capital A secures US$100m investment to grow MRO business

April 26, 2023

Asia Digital Engineering (ADE), the engineering and maintenance subsidiary of Capital A Bhd, has secured an investment of US$100 million (RM446 million) from investment firm OCP Asia Ltd to expand its maintenance, repair and overhaul (MRO) business.

The investment will be used for the construction and operationalisation of a new 14-line aircraft maintenance hangar facility in Sepang as well as ADE's further business expansion, demonstrating the company's commitment to achieving long-term growth and success.


MJets Signed an Engine Services Agreement With Pratt & Whitney

Apr 18, 2023

MJETS MAINTENANCE LIMITED has announced the signing of an engine services agreement (ESA) with PRATT & WHITNEY CANADA (A'Asia) PTY LTD. to procure exclusively from P&WC (SEA), and P&WC (SEA) agrees to supply Goods and Services in support MJets managed and serviced aircraft.

Under the terms of the agreement, Pratt & Whitney agrees to provide goods and perform Services from a dedicated support team, a technical support group, and commercial support.


Liebherr-Aerospace and REVIMA team up for A350 Nose Landing Gear MRO in Asia-Pacific

18 April 2023

Liebherr-Aerospace and REVIMA Landing Gear Services Asia Pacific have announced an expanded collaboration covering MRO services for the Airbus A350's Nose Landing Gear to airlines operating in the Asia-Pacific region.

Thai Airways Renews Distribution Agreement With Sabre

April 17, 2023

Sabre announced a renewed distribution agreement with Thai Airways. The flag carrier will also be using Sabre's robust data combined with its consultancy services to help it accelerate recovery.

The Global Distribution System (GDS) renewal ensures that Sabre-connected travel agencies will continue to have access to Thai Airway's content globally, while enabling the airline to retain its reach across Sabre's valuable network of global travel buyers and intermediaries. Meanwhile, Thai Airways will also be taking advantage of Sabre's extensive global booking data to help it identify recovery and growth opportunities.


Thai Lion Air aims 18 fleet of B737s by the end of the year

April 17, 2023

The head of commercial operations at Thai Lion Air says the low-cost carrier will not be resuming A330 flights, instead intending to focus on narrowbody Boeing operations.

Nuntaporn Komonsittivate said Thai Lion Air would boost its 11-strong B737 fleet to 13 this month to cater to the recently reopened Chinese market. Thai Lion Air flies to 10 Chinese destinations from is Bangkok hub and load factors are running at around 80%. The airline intends to expand to cities such as Wuhan, Shenzhen, and Hangzhou shortly.

That expansion will be facilitated by the arrival of additional aircraft, including another two B737s in May and three in July. Thai Lion Air aims to have an 18 strong fleet of B737s by the end of the year, still around half of the 35 aircraft it had in 2019.

Airlines encouraged to add planes to push down fares

April 15, 2023

Aviation regulators will speed up approvals for airlines seeking to add planes to boost capacity and bring down airfares that have soared in recent months with a rapid recovery in tourism. The Civil Aviation Authority of Thailand (CAAT) is in the process of approving requests by the local units of LionAir, VietJet Air and Thai AirAsia to add more jets to their fleets. Thai Airways International has also sought permission to operate six more aircraft.

Thai Airways signs long term contract for A320 Family fleet

April 5, 2023

Thailand’s flag carrier airline, Thai Airways, has renewed its Airbus Flight Hour Services-Components (FHS-C) contract for its A320 fleet. This latest FHS contract extension from Thai Airways restates the long standing relationship between Airbus and the airline.

The long term agreement will provide support for Thai Airways’ 20 A320 Family aircraft for the foreseeable future. Comprehensive material services will include on-site-stock at the airlines Suvarnabhumi Airport main base in Bangkok, unlimited access to regional Airbus pools, components repair and engineering services.

EEC's New Chief Unveils His Management Vision

4 April, 2023

Mr Chula  Sukmanop was appointed by the EECPC board to the secretary-general post in late December last year. His appointment was not officially approved by Gen Prayut until March 24. Among his working priorities as the new EECPC secretary-general are to continue to push for the high-speed train project linking Don Mueang, Suvarnabhumi and U-Tapao airports.

AOT to launch development project near Suvarnabhumi Airport

31 March, 2023

Airports of Thailand (AOT) will move forward with its plans to create an “airport city” adjacent to Suvarnabhumi International Airport, following an announcement in the Royal Gazette authorizing the use of farmland around the facility for infrastructure and buildings.

According to AOT, the project will commence with the opening of bidding for a contractor to construct a bridge and road from the airport to the 723-rai plot and install basic infrastructure such as piped water and electricity cables. A private company will then be chosen to develop the airport city project into a trade hub for agricultural products, a quality control center for exports, and a distribution center for export goods.

Bangkok Airways is confident as Thailand tourism cranks up


Bangkok Airways said recently it is forecasting the total number of passengers globally will reach about 70-80 percent of the Pre-COVID volume due to rapid travel demands and recovery of the world economy. In 2023, the airline said, Bangkok Airways plans to strengthen and enhance its services to better facilitate its customers and airline partners, as well as focus on uplifting the operation of its three owned airports.

In 2023, Bangkok Airways aims to carry about 4.4 million passengers and operate more than 40,000 flights.

AAR acquires Trax, a leading provider of aircraft MRO and fleet management software

March 20, 2023

AAR CORP. has acquired Trax USA Corp., a leading independent provider of aircraft MRO and fleet management software.

The Trax acquisition accelerates AAR’s strategy to offer digital solutions focused on its core aviation aftermarket customers. Trax adds established, higher-margin aviation aftermarket software offerings with recurring revenue to AAR’s portfolio, and its complementary customer base provides opportunities to cross-sell products and services.


$1bn expansion of Bangkok’s budget air terminal to start this year

24 March, 2023

Airports of Thailand (AOT) this week confirmed plans to invest $1bn in an expansion of its budget traveller terminal at Bangkok’s Don Mueang Airport. As well as increasing the size of the terminal, there will also be 12 aircraft parking stands for aircraft and 11 jet bridges, the Bangkok Post reports, quoting a statement from AOT.

Former Nok boss Sarasin launches Really Cool Airlines

22 March 2023

Former Nok Air chief executive Patee Sarasin has launched a new carrier in Thailand named Really Cool Airlines. Sarasin announced the launch of Really Cool at an event in Bangkok, according to the carrier. The coming months will see the carrier announce its fleet and route plans, with services set to start by the end of 2023.  

Sarasin is an iconic figure in Thailand’s airline scene. He launched low-cost carrier Nok in 2004, and led the carrier for thirteen years, only stepping down in September 2017.

Thailand to build 7 new airports

21 March, 2023

The Department of Airports (DOA) plans to spend 50 billion baht on the development of seven new regional airports in Thailand, in Nakhon Pathom, Bueng Khan, Mukdahan, Kalasin, Phayao, Phatthalung and Satun provinces, reports DailyNews. The department wants to boost connectivity and provide more travel options for Thais and foreign tourists. New airports around Thailand’s lesser-known locations have been in the pipeline for years but faced delays due to the pandemic. Now, the department is making good progress.

4 new unique airlines look to open in Thailand
13 March, 2023
Thailand’s Transport Ministry revealed that four new airlines are seeking to operate in the country, according to a source who spoke to the Thai news site Thanset
takij. The four companies are P80 Air, Really Cool Air, Landarch Airline and Siam Seaplane. The source added that it would take some time to obtain air service licences. The four airlines were expected to be approved to operate next year.

As Operators Rebound, OEMs Refocus On Aftermarket Support
March 10, 2023
Prior to the 2020 global travel downturn, many aftermarket providers were scrambling to keep up with demand. As the industry recovers, now there is a scramble of a different sort. Engine-makers are staffing up to meet rising demand and handle initial waves of new-generation engine overhauls, as well as some lingering teething problems on a few of these platforms. For the major airframe manufacturers, the tasks are somewhat more routine: focusing on supporting the in-service fleet and circling back to pre-pandemic strategies that sought to build revenue through aftermarket services.

Thai VietJetAir to be an all Boeing airline by 2024
07 March 2023
Thai VietJetAir is preparing to radical
ly restructure both its network and fleet as it moves to phase out its Airbus aircraft and bring in Boeing planes while also switching from a domestic to international focus. CEO Woranate Laprabang said revenue increased by 100% in 2022 and he expects to see a similar result this year. 

HKIA Consultancy Signs MoU on Collaboration regarding Advisory Service for U-Tapao International Airport
02 March 2023

HKIA Consultancy Limited (HKIA Consultancy) and U-Tapao International Aviation Company Limited (UTA) today signed a Memorandum of Understanding (MoU) regarding collaboration on the U-Tapao International Airport and Eastern Airport City Development Project near Bangkok. Under the MoU’s framework, HKIA Consultancy will advise UTA on matters related to airport planning, operations, smart technology and commercial development.

Thai Air Asia considers regional expansion
Thai Air Asia or AAV has released its quarterly results for the fourth quarter of last year, and is looking to expand its operations. The airline posted its EBITDA (earnings before interest, taxes, depreciation and amortization) standing at 1,6 billion baht or 45 million USD respectively.
The EBITDA shows that the airline is recovering strongly from the heydays of the pandemic. Thai Air Asia is also expecting better days coming ahead with the reopening of China, and with that being said, the airline is prepping for its ramping up of operations. 

Thai aviation flying high as demand for flight slots, led by Chinese airlines, soars
FEBRUARY 13, 2023
"The total number of flights in February this year now is 25,256," CAAT director-general Suttipong Kongpool said. He added that the number of flights in some weeks had increased to the level as before the Covid-19 pandemic in 2020, thanks to the government's move to lift travel restrictions in July last year. Suttipong added that 19 Chinese airlines have requested permission to operate flights to Thailand after China ended its travel restrictions on January 8 this year. 

Thailand's four major international airports being expanded to cope with return of foreign tourists
FEBRUARY 09, 2023

Deputy government spokeswoman Traisulee Taisaranakul said efforts are being speeded up to expand major international airports after the CAAT predicted that the number of foreign arrivals would reach the pre-Covid level in 2024.
The expansion of the airports are also aimed at coping with the prediction of the IATA, the spokeswoman added. She quoted the IATA as predicting around 200 million foreign arrivals in 2031.
Traisulee said the four major airport expansion projects are: Suvarnabhumi International Airport Phase 2; Don Mueang International Airport Phase 3; Expansion of the U-Tapao International Airport; Phuket International Airport Phase 2.

Thai Airways CEO Sees Travel Rebound Leading to Early Debt-Plan Exit, New Planes
FEBRUARY 09, 2023
Debt-ridden Thai Airways International Pcl expects to exit its rehabilitation plan ahead of schedule and is shopping for new planes as the recovery in global tourism bolsters earnings.
Thailand’s state-controlled carrier will be able to leave its court-supervised debt plan “much earlier” than a late-2024 target, Chief Executive Officer Chai Eamsiri said Thursday. The company is also in talks with plane makers including Boeing Co. for “long-term” acquisitions of new aircraft to modernize its fleet, he said.

Thailand to begin construction of $9 bln aviation city this year
January 27, 2023

Thailand will begin construction on the 290-billion baht ($8.82 billion) U-Tapao aviation city early this year, a government spokesperson said on Friday. The project will generate 15,600 additional jobs in the first five years and drive growth in Thailand's aviation industry, Tipanan Sirichana said in statement.


bottom of page