Connect with us

Corporate

Is The worst really over for Thai Airways ?

Thailand’s national carrier, Thai Airways, was once among the most successful and admired in Asia, but like many other so-called ‘legacy airlines’ Thai is now facing strong headwinds.

Boris Sullivan

Published

on

After a five-year austerity drive, Thai Airways International is ready to expand again and “The worst is over” according to an interview of Charamporn Jotikasthira by Bloomberg News.

Loading...

Thailand’s national carrier, Thai Airways, was once among the most successful and admired in Asia, but like many other so-called ‘legacy airlines’ Thai is now facing strong headwinds.

Indeed THAI has been confronted to a very challenging environment since Charamporn Jotikasthira took the helm in December 2014.

As reported by Bloomberg, the airline’s president Charamporn Jotikasthira confirmed that Thai Airways was drawing up a 10-year plan through 2027 that would see it purchase new aircraft to help cater for increased passenger growth.

Thai Airways now announced new plans to add routes and buy new, more fuel-efficient aircraft to replace ageing jets, President Charamporn Jotikasthira said in an interview in Bangkok on Aug 17.

The airline, which last ordered planes in 2011, is drawing up a 10-year plan through 2027 that will include the aircraft purchases to help boost passenger growth, he said.

In 2014 Thai carried a total of 19.1 million passengers and operated a fleet of a 93 aircraft with 24,952 employees.

Thai also has shareholdings in other associated activities like hotels, airline catering services, aviation fuel supply services, online ticketing system and 100% shares in Thai Smile Airways and a 39.2% holding in Nok Air.

Charamporn’s cost cuts and a decline in oil prices helped Thai Airways return to profit in the first half and have fueled a 191 percent surge in the company’s shares this year, compared with an 11 percent drop for the Bloomberg Asia Pacific Airlines Index. The stock slumped 37 percent in 2015.

The state-controlled carrier made a net loss of 2.92 billion baht for the April-June quarter, versus a 12.8 billion baht loss a year earlier. That compared with the average loss estimate of 2.1 billion baht, according to three analysts surveyed by Reuters.

Thai Airways International Plc cut its losses for the second quarter of 2016 helped by a decline in fuel expenses and gains from an ongoing restructuring programme.

It returned to a profit in the fourth quarter of 2015, shrinking its full-year loss as a restructuring that reduced operating costs and boosted passenger revenues bore fruit.

Corporate

The 3 key barriers to remote working (and how to overcome them)

COVID-19 created the world’s largest remote working experiment and, for many, showed just how possible it was for employees to do their jobs without being at the office.

Daniel Lorenzzo

Published

on

Following the real-world experiment with remote working, it’s time for business leaders to re-examine their previous misgivings, and explore how to adopt flexible working in the long term

Loading...
(more…)

Continue Reading

Corporate

Digital transformation: what will be the long‑term effect of Covid‑19?

For many businesses, the Covid-19 pandemic was the catalyst for their organisational caterpillar to evolve toward digital transformation. Yet following the crisis, it remains to be seen which companies will emerge with wings – and which will simply be crawling along slightly faster than before.

Daniel Lorenzzo

Published

on

The outbreak of Covid-19 forced the rapid adoption of remote working practices and an acknowledgment of the importance of digital transformation. Following the pandemic, what will the lasting impact be?

Loading...
(more…)

Continue Reading

Corporate

Fitch Ratings Expects Improvement of Thai Corporates’ Credit Outlook

Fitch said the outlook for the food retail sector in 2021 would remain stable as earnings rebound, while the outlook for the building material and power & utilities sectors to be stable in the coming years.

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – The credit rating agency Fitch Ratings expects Thai corporates’ credit outlook to improve this year as vaccination is rolled out and economic activity recovers.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,980 other subscribers

Latest

Trending