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Thai Airways losses spiral to 11 billion baht

Thailand national airline has reported a further slump in profits for Q3 2019 with a net loss of 4.68 billion baht.

Aishwarya Gupta

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Thai Airways routes

The national carrier Thai Airways International (THAI) reported a net loss of Bt4.68 billion, In the first nine months of 2019, THAI accumulated a loss of Bt11 billion.

This loss translates to Bt2.14 loss per share, which is Bt0.44 higher than last year or 25.9 per cent.

THAI president Sumeth Damrongchaitham said the national airline would post a loss of less than 3 billion baht in the last quarter of this year, which is the high season. Just a few days ago, he said he hoped the airline could reduce its full-year loss to 2.2 billion baht, from an expected 10 billion.

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Thai Firm to produce 200 million doses of Covid-19 vaccine

Thai Firm Siam Bioscience Joins with AstraZeneca to Make COVID-19 Vaccine for Southeast Asia and says it will produce 200 million doses of its anti-coronavirus vaccine in Thailand next year.

Olivier Languepin

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Thailand aims to vaccinate up to half of its population against Covid-19 next year according to the director of its National Vaccine Institute, Dr. Nakorn Premsri.

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Great Wall Motor (China) takes over GM factory in Thailand

The Thai production hub will become operational in the first quarter of 2021 with automobile production capacity of 80,000 units per annum.

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Chinese carmaker Great Wall Motor (GWM) hosted a ceremony on November 2nd to celebrate the latest milestone in taking full ownership of Rayong Manufacturing Facility in Thailand.

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Companies

Despite Covid-19, why is M&A booming in South-East Asia?

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Oxford Business Group

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While the coronavirus pandemic has had a negative impact on many businesses throughout 2020, a recent rebound in mergers and acquisitions (M&A) has pointed towards a partial recovery in investor sentiment – as well as demonstrating that certain sectors have taken on greater importance as a result of Covid-19.

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