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Thai Airways reports $280Mln loss in Q2

Thanks to positive performance in the first quarter, the company’s net loss in the first half was only Bt155.98 million against the net profit of Bt3.69 billion in the same period last year.

Aishwarya Gupta

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Thai Airways routes

Thanks to positive performance in the first quarter, the company’s net loss in the first half was only Bt155.98 million against the net profit of Bt3.69 billion in the same period last year.

In the statement to the Stock Exchange of Thailand, THAI reported that in the first half, it experienced a drop in fuel cost, from Bt40 billion to Bt38.77 billion. It also posted an increase in sale revenue and foreign exchange gain of Bt1.9 billion.

While the first-half revenue rose only slightly from Bt101.9 billion last year to Bt103.1 billion.

Yet, expenses rose sharply from Bt102 billion to Bt108 billion, chiefly due to the new accounting rule on aircraft depreciation cost. Depreciation cost in the first half was Bt3.59 billion, against Bt181 million in the same period last year. Employees’ benefits also rose sharply from Bt14.88 billion to Bt17 billion.

via THAI posts Bt8.42bn loss in Q2 – The Nation.

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How will recruitment change following COVID‑19?

Remote working, distributed workforces and a greater demand for flexibility are all factors affecting how businesses and candidates think about work opportunities

Daniel Lorenzzo

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At the start of the 2020 pandemic, recruitment wasn’t high on the list of priorities for many businesses. In fact, it was just the opposite – across the globe there were hiring freezes and the large-scale furloughing of staff.

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Corporate

Covid-19 puts flexible space markets under strain

In the wake of operator defaults, landlords will be forced to re-evaluate the role of flexible space in their portfolios.

Daniel Lorenzzo

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The global Covid-19 outbreak has had serious negative effects on commercial real estate, including flexible space. Of late, many operators have experienced the flexible nature of the business working against them, as many occupiers have opted to surrender desks and implement work-from-home plans.

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Business

Thailand’s automotive sector expected to produce 1.4m cars this year

This increase in output is a result of the recovery of domestic and export markets, with the annual output for 2021 expected to be around 1.4 million.

National News Bureau of Thailand

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Thailand Automotive Institute (TAI) anticipates the overall output from Thailand’s automotive sector this year to be around 1.4 million cars. They are, however, still cautious over automobile exports until at least March this year, due to the resurgence of COVID-19 cases around the world.

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