Thai Airways' operating profit is likely to grow through 2028, DBS Group Research analysts write in a note. Its plan to grow its fleet to 128 aircraft by end-2028 from 80 at end-2025 provides a visible multiyear earnings growth runway, they say. The new aircraft deliveries will support higher frequencies, the restoration of suspended routes and entry into new destinations across Asia and Europe, the analysts add. They note the airline's comprehensive restructuring last year after the pandemic, including an operational overhaul and balance sheet recapitalization. This transformation hasn't yet been reflected in valuations, and there is rerating potential given the airline's solid fundamentals, the analysts add. DBS initiates stock coverage with a buy rating and a target price of 8.70 baht. Shares rise 9.9% to 6.65 baht. (kimberley.kao@wsj.com)
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Thai Airways Operating Profit Likely to Grow — Market Talk
Thai Airways' operating profit is likely to grow through 2028, DBS Group Research analysts write in a note. Its plan to grow its fleet to 128 aircraft by end-2028 from 80 at end-2025 provides a visible multiyear earnings growth runway, they say. The new aircraft deliveries will support higher frequ…