Thai Airways International Public Co, Ltd (THAI) plans to buy 75 aircraft plus spare engines between 2011-2022 at the total cost of about Bt457 billion with an aim to developing its routes and increase earnings and to decommission aging aircraft, according to THAI president Piyasvasti Amranand.
Thai Airways International, the nation’s biggest carrier, said full-year profit more than doubled to the highest since the company’s shares were listed in 1991.
Net income was 15.3 billion baht, or 8.39 baht per share, compared with 7.34 billion baht, or 4.32 baht, a year earlier, the company said on Saturday.
Thai Air, which lost 21 billion baht in 2008, has sought to modernise its fleet and cut costs as it competes with Singapore Airlines and regional carriers to carry travellers to beach resorts including Phuket. The board yesterday approved a plan to order 38 aircraft between 2018 and 2022, in addition to the 105 planes it aims to add by the end of 2017.
Thailand performs well compared to other countries in the region on many aspects of government regulations and regulatory procedures that facilitate business. According to the latest annual World Bank’s Doing Business report, in 2008 Thailand ranks 13th among over 180 countries and 4th in East Asia in the ease of doing business. The ease of doing business is measured by quantitative indicators of regulatory requirements and procedures in ten areas in the life cycle of typical small and medium enterprises (SMEs) in the largest city in a country.
They include, for example, the number days, steps, and cost needed to obtain business licenses, registering property, clear customs, pay taxes, and close a business. It only takes 2 steps and 2 days to register property in Thailand, on of the fastest in the world. Progress over the recent years has been particularly on the improvements in the customs process after the introduction of the internet-based customs clearance system, which has reduced the number of required documents and time taken to clear customs for exports.
THAI to buy 75 aircraft plus parts between 2011-2022