THAI collaborating with Bangchak on sustainable fuel initiative

Mitch ConnorPublished: 09:53, 27 May 2023| Updated: 10:32, 27 May 2023

659 1 minute read

THAI collaborating with Bangchak on sustainable fuel initiative — Thamarat Prayoonsuk, Bangchak Senior Executive Vice President, 2nd left, signs the MoU with Taviroj Songkumpol, THAI Chief of Corporate Strategy, 2nd right. Photo by Bangkok Post.

Thamarat Prayoonsuk, Bangchak Senior Executive Vice President, 2nd left, signs the MoU with Taviroj Songkumpol, THAI Chief of Corporate Strategy, 2nd right. Photo by Bangkok Post.

Thai Airways International Plc (THAI) has recently partnered with Bangchak Corporation Plc to sign a Memorandum of Understanding (MOU) focusing on technical and professional knowledge sharing in the field of Sustainable Aviation Fuel (SAF) utilisation.

The chief of corporate strategy at THAI, Taviroj Songkumpol, stated that the national carrier has been striving for over 63 years to maintain a balance between economic considerations and the well-being of society and the environment through responsible business practices.

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Thamarat Paryoonsuk, senior executive vice president for Bangchak’s Refinery Business Group, emphasised the company’s dedication to its continuing vision of “Crafting a Sustainable World with Evolving Greenovation.”

Bangchak is actively developing and expanding its core businesses, Bangkok Post reported. It is also accelerating investments in green and sustainable enterprises to prepare for future technological advancements and the challenges posed by climate change.

In 2022, Bangchak established Thailand’s first and only company dedicated to producing SAF from used cooking oil. This initiative aims to transform the Bangchak refinery into a biorefinery capable of generating biofuels to reduce greenhouse gas emissions within the transportation sector. The senior vice president also highlighted that SAF adds value to used cooking oil and contributes to reducing carbon dioxide emissions from the aviation industry.

Earlier this month, it was reported that THAI was anticipated to accumulate at least 130 billion baht in revenue this year after its net profit in the first quarter reached 12.5 billion baht. THAI CEO Chai Eamsiri highlighted that the national carrier generated 41.5 billion baht of revenue during the first quarter, an impressive increase of 271.2% compared to the income of 11.1 billion baht during the same period last year.

This notable growth is attributed to the rise in commercial flights. The improved earnings provided the carrier with 42.2 billion baht of cash flow, a significant increase from 5.7 billion baht last year.

Mitch Connor

Mitch is a Bangkok resident, having relocated from Southern California, via Florida in 2022. He studied journalism before dropping out of college to teach English in South America. After returning to the US, he spent 4 years working for various online publishers before moving to Thailand.