Thai Airways International president Charamporn Jotikasthira has promised to return the ailing national carrier to profit by January 2017.
He said the airline was on course to move out of the red as it was reducing its workforce, tightening its belt and restructuring the organisation to narrow losses.
Mr Charamporn made the comment on Friday after a board meeting at which directors reviewed the airline's first-quarter results. The figures cannot be disclosed until they are reported to the Stock Exchange of Thailand later this month.
The reforms now under way would result in better performance for the airline by January next year and it would be profitable again by January 2017, he added.
The airline suffered a net loss of 15.6 billion baht in 2014, on top of a loss of 12.05 billion baht the year before.
THAI last week announced a "golden handshake" programme last week to shed 2,000 employees. It has allocated a budget of 5.5 billion baht for the early retirement programme.
The airline reported a cabin factor of 76% in the first three months of this year compared with 68.9% in the same period of last year, according to the president.
The board on Friday approved the sales of eight more airplanes — five Airbus A300-622 and three Airbus A330-321 jets — bringing the total number of aircraft to be moved out of the fleet to 27 by the end of this year.
THAI shares closed yesterday on the Stock Exchange of Thailand at 12.50 baht, up 10 satang from Thursday, in turnover worth 17.7 million baht.