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Thai Airways reports 9.1bln baht loss in nine months

Thai Airways International today reported a consolidated net loss of 9,117 million baht for the first nine months of this year.

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Thai Airways International today reported a consolidated net loss of 9,117 million baht for the first nine months of this year.

The loss represented a  2,864 million baht increase from the same period last year, said THAI acting president ACM Siwakiat Jayema.

However he said the third quarterly performance of this year showed THAI and its subsidiaries have recorded profits of 1,097 million baht, breaking down to 1,086 million baht generated by THAI, as compared with 6,182 million baht net loss of the third  quarter in 2013.

He attributed the loss for the past nine months to the tourism industry which is still not returning normal and tough competition in the industry, particularly from low cost airlines, fleet expansions, and opening of new routes.

As a consequence, THAI suffered a 15% drop in passengers from 16.20 million in the same period last year to  13.77 million this year.

The average number of seats sold per flight slipped to 70%, down nearly 10 percentage points from one year earlier.

He also said the average number of seats sold per flight in the third quarter also slipped  to 71.1% from 75.3% last year.

Besides loss from asset depreciation also rose 66.2% or 2,086 million baht higher than last year  to 5,237 million baht, he added.

via THAI suffers nine billion baht loss in nine months – Thai PBS English News.

Corporate

The environmental case for remote working

Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19.

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During the pandemic, the environmental and societal benefits of working at home quickly became apparent. How can businesses protect these benefits in the future?

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Investment

Thailand Q1 Investment Applications Soar 80% as FDI More Than Double says BOI

The top three source countries of FDI applications during the first quarter were South Korea, China, and Singapore, with similar levels of investment. Korean investment soared due to a large-scale joint venture in the medical sector, Ms Duangjai said.

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The Thailand Board of Investment (BOI) said today that in the first quarter of 2021, investment applications rose 80% from the year earlier period to a total value of 123.4 billion baht (USD3.9 billion), led by projects in the medical and electric and electronics (E&E) sectors, as foreign direct investment (FDI) applications more than doubled.

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