Thai Airways jumped on Monday after Thailand’s aviation authority said the International Civil Aviation Organisation had removed a red flag against the country for its safety record.

The Civil Aviation Authority of Thailand said the red flag symbol that had appeared next to the country’s name on the ICAO’s website since 2015 had been removed on Friday. The removal of the flag followed a meeting by the Montreal-based UN agency to discuss Thailand’s status as a country with significant safety concerns, the CAAT said.

“Although lifting red flag is a significant turning point for her aviation industry, Thailand as well as CAAT need to carry on their missions to improve the aviation safety standards and become one of the world’s forefront,” the CAAT said in a statement on its website.

The ICAO issued Thailand a red flag in June 2015 after discovering 33 significant safety concerns during an inspection earlier that year. The downgrade meant Thai airlines were prevented from adding international routes.

Thai Airways shares jumped as much as 8.7 per cent and Bangkok Airways rose as much as 4.3 per cent on Monday.

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