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Thai Airways Q3 losses free falling to 21.5 billion baht

Adding to the 28 billion llion baht loss for the first semester of this year, Thai Airways losses are now close to 50 billion illion bahts.

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The national carrier Thai Airways International (THAI) reported a net loss of Bt21.53 billion in the third quarter ending September, compared to a 4.68 billion baht loss in the same period last year.

Added to the 28 billion baht loss for the first semester of this year, Thai Airways losses are now close to 50 billion bahts.

Thai Airways losses for this year (2563) should stand over 50 billion bahts.

The company, which had total liabilities of 332.2 billion baht at the end of June, faces one of the biggest challenges in its 60-year history as the Central Bankruptcy Court in Bangkok digs further into the airline’s accounts.

As Reuters reported last month , the national airline company appointed auditors, firm Deloitte Touche Tohmatsu Jaiyos Co Ltd, said it could not reach a conclusion on the statements due to issues including a lack of liquidity and debt defaults and declined to sign off on the accounts.

Trading in THAI shares was suspended today after auditors refused to comment on its balance sheet to the end of last month, the Stock Exchange of Thailand announced. THAI shares closed on Wednesday at 3.20 baht, down 2.44% on the previous day.

The airline had defaulted on loans and bonds totalling 85 billion baht, or 33.1% of its total assets, according to its latest statement on July 22. It reported a net loss of 28 billion baht in the first half of this year, a more-than-fourfold jump from 6.44 billion baht during the same time a year ago.

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Health

Thai Government Orders 20 Million Doses of Pfizer COVID-19 Vaccine

The ministry will have a month to negotiate with Pfizer, while the company must send documents to register the vaccine with the Food and Drug Administration (FDA).

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BANGKOK (NNT) – The Public Health Ministry announced that the government has approved the order for 20 million doses of the Pfizer COVID-19 vaccine.

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Economics

Vaccine shortage could derail Thailand’s economic recovery

As much of the Asia-Pacific region is gearing up for a 2022 reopening and recovery, Thailand is now lagging behind many countries in vaccine procurement and sluggish vaccine campaign threatens the country’s economic recovery.

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As Thailand enters the second week of its mass rollout of locally produced AstraZeneca vaccines, it appears that supplies are falling short of demand from patients.

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