Thai Air Shares Soar to Seven-Year High After Earnings Jump

Thai Airways International Pcl’s shares climbed to the highest level in almost eight years after the state-controlled airline reported that net income for the second quarter soared nearly 39-fold from a year earlier.

The carrier rose as much as 10.5% on Friday to the highest intraday level since October 2018, extending its weekly gains to almost 340%. Its market value has reached more than 407.5 billion baht ($12.6 billion), making it the fifth-largest carrier in Asia, according to data compiled by Bloomberg.