“Thai Air’s valuation deserves a premium due to its successful business rehabilitation,” said Raweenuch Piyakriengkai, InnovestX Securities analyst, who gives the stock an “outperform” rating. The company’s restructuring “has firmly established a high earnings baseline and significantly enhanced future competitiveness,” she said.
Shares of Thai Airways International Pcl will resume trading Monday in Bangkok for the first time in five years, the culmination of the state-controlled airline’s emergence from its US$12 billion debt restructuring.
The move marks the flag carrier’s return to normal business operations after it had accumulated more than 400 billion baht ($12 billion) of debt in the lead up to the pandemic that ravaged the global travel industry. The company in June exited a court-supervised debt rehabilitation as the post-Covid travel demand boom enabled it to achieve an earnings turnaround and sell new shares to raise capital.
