Thai Airways has released its financial results for the third quarter of 2025, reporting total revenue of THB44.4bn ($1.37bn), a year-on-year decrease of 3.1%. Net profit for the period reached THB4.42bn, with the national carrier noting that a stronger Thai baht and heightened market competition put pressure on earnings, according to Pattaya Mail. 

The airline carried 3.89mn passengers during the quarter, while its cabin load factor edged up to 76.8%, reflecting a slight improvement in capacity utilisation.

Operating expenses fell by 7.2% to THB35.84bn, this reduction was mainly driven by lower fuel costs and decreased spending on aircraft maintenance, even as flight activity increased. As a result, operating profit before finance costs grew by 19% to THB8.56bn, translating into an EBIT margin of 19.3%.

Over the first nine months of 2025, Thai Airways recorded revenue of THB140.85bn, representing a 3.7% increase compared with the same period last year. Net profit rose sharply to THB26.39bn, up 73.4%. Passenger numbers expanded by 4.9% to 12.19mn, with an average cabin load factor of 79.1%.

As of September 30, 2025, the airline operated a fleet of 78 aircraft. Total assets were reported at THB299.73bn, while cash and cash equivalents stood at THB123.19bn, underlining the carrier’s strengthened financial position.

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