- Thai Airways has reported a total revenue of approximately $1,337 million for the first quarter of 2024, marking a 10.7% increase from the previous year’s $1,207 million.
- This growth is largely driven by increased passenger revenue following the resumption of flights and higher frequencies on key routes.
- The airline’s partnership with RateGain’s AirGain platform aims to enhance its pricing strategies, helping Thai Airways maintain its competitive edge in the global aviation market.
Thai Airways International Public Company Limited (Thai Airways), the national flag carrier of Thailand and a proud member of the Star Alliance network has announced a multi-year partnership with RateGain Travel Technologies Limited (RateGain), a leading provider of AI-powered SaaS solutions for the travel and hospitality industry. This strategic collaboration will see Thai Airways leverage RateGain’s dedicated platform for airlines, AirGain, to redefine its pricing strategies across its extensive domestic and international network.
Thai Airways has been a cornerstone of the aviation industry
Founded in 1960, Thai Airways has been a cornerstone of the aviation industry, renowned for its unwavering commitment to quality service, punctuality, and safety. Operating from its central hub at Suvarnabhumi Airport in Bangkok, the airline offers a global reach that is significantly enhanced by its membership in the Star Alliance network, connecting passengers to a vast array of destinations with seamless travel options and benefits.
The first quarter of 2024 saw Thai Airways and its subsidiaries report a total revenue of 45,955 million baht (approximately $1,337 million), marking a 10.7% increase from the 41,507 million baht (approximately $1,207 million) recorded in the same period last year. This growth was driven by a robust increase in passenger revenue following the resumption of flights and increased frequencies on key routes to Europe, Australia, and Japan.
With a fleet of 79 aircraft at the end of 2024 and plans to expand to 89 by 2025, Thai Airways is entering a period of significant growth within the airline industry. The partnership with AirGain comes at a crucial time, enabling Thai Airways to capitalize on AirGain’s advanced technological solutions to maintain and enhance its competitive edge. By providing unmatched value and superior service, Thai Airways continues to solidify its reputation as the airline of choice for travellers worldwide.
AirGain, an ideal partner for Thai Airways
RateGain, which recently surpassed a 1 billion market cap on the Indian stock exchange, is rapidly emerging as a dependable partner in the airline rate intelligence space. Its cutting-edge pricing intelligence solutions make AirGain the ideal partner for Thai Airways in its mission to optimize pricing strategies and sustain its leadership in the competitive aviation market.
The dynamic nature of the aviation market necessitates access to precise and up-to-date market data. Our collaboration with AirGain aligns with our strategic goals, empowering us to make informed decisions based on robust data analytics. This partnership not only reinforces our competitive advantage but also reaffirms our status as the preferred airline for travellers to and from Thailand, leveraging our extensive network through Star Alliance.
Nuthaphol Amawatana, Head of Pricing and Revenue Management at Thai Airways
Through this collaboration, Thai Airways will gain the ability to identify daily growth opportunities, swiftly respond to market changes, and offer competitively priced travel options tailored to a diverse range of passengers.
Commenting on the partnership, Nuthaphol Amawatana, Head of Pricing and Revenue Management at Thai Airways, stated, “The dynamic nature of the aviation market necessitates access to precise and up-to-date market data. Our collaboration with AirGain aligns with our strategic goals, empowering us to make informed decisions based on robust data analytics. This partnership not only reinforces our competitive advantage but also reaffirms our status as the preferred airline for travellers to and from Thailand, leveraging our extensive network through Star Alliance.”
This partnership marks a significant milestone in Thai Airways’ ongoing efforts to innovate and lead in the global aviation industry, ensuring that it remains at the forefront of service excellence and customer satisfaction.
About Thai Airways
Thai Airways International Public Co., Ltd., established in 1960, is Thailand’s national carrier and a prominent figure in global aviation. Headquartered in Bangkok, THAI connects Thailand to the world with an extensive network of domestic and international flights across Asia, Europe, Australia, and North America. Known for its exceptional service, THAI blends Thai hospitality with modern technology and a strong commitment to safety and sustainability. As a member of the Star Alliance, the airline offers seamless travel experiences, reflecting the rich culture and warmth of Thailand. With a modern fleet and award-winning service, Thai Airways continues to set the standard for excellence in air travel.
