Business
Asia Pacific’s passenger traffic drops 98,8% in April
Preliminary April 2020 traffic figures released today by the Association of Asia Pacific Airlines (AAPA) showed that international air passenger traffic was almost brought to a standstill in April.

Preliminary April 2020 traffic figures released today by the Association of Asia Pacific Airlines (AAPA) showed that international air passenger markets were battered by the effects of the COVID-19 pandemic.
The rapid spread of the virus, resulting in border closures and travel restrictions across the world, forced an almost complete shutdown of international airline operations.
Meanwhile, air cargo markets remained active but were affected by weakening demand and disruptions to global supply chains, including a sharp reduction in passenger belly-hold capacity.
Overall, Asia Pacific airlines saw international passenger numbers plunge 98.8% year-on-year to a combined total of just 368,000 passengers in April compared to the 31.9 million carried in the same month last year.
“The April traffic numbers underscore the devastating impact of the COVID-19 pandemic on global air travel markets.
Uncertainty remains as to how long the crisis will persist. Nevertheless, with infection curves showing signs of flattening, it is hoped that conditions are beginning to bottom out.”
Subhas Menon, AAPA Director General
The average international passenger load factor slumped to a historical low of 28.0% for the month as available seat capacity declined by 94.6%.
With the COVID-19 crisis escalating in many countries, community-wide lockdowns and social distancing measures dampened consumer demand leading to a marked slowdown in global trade and manufacturing activity.
As a result, Asian airlines saw air cargo demand,as measured in freight tonne kilometres (FTK), fall by 28.3% year-on-year in April. In addition, the grounding of most of the region’s passenger fleets further reduced air cargo capacity in the market.
Although partly mitigated by additional freighter operations and the deployment of cargo-only passenger flights, offered freight capacity fell by 38.3%, leading to a 9.4 percentage point increase in the average international freight load factor to 67.5% for the month.
Source : AAPA
Business
Marijuana could generate up to Bt8 billion for Thailand’s pharmaceutical industry
Last year, Thailand removed cannabis and hemp leaves from its list of banned narcotics (seeds and buds remain banned).

Marijuana could generate up to Bt8 billion for Thailand’s pharmaceutical industry over the next five years, but farmers stand to make little from growing the herb, experts say.
Business
THAI airways to sell training center building to raise more funding
THAI airways has been hit hard by limited travel due to the COVID-19 pandemic, which comes as they were entered bankruptcy protection and sit on the verge of liquidation.

THAI airways is selling its Laksi training center building, in the Bangkhen district of Bangkok, its Nok-Air shares, its Bangkok Aviation Fuel Services (BAFS) shares and Boeing 737- 400 engines, after the bankruptcy court gave the go-ahead to do so.
Banking
Can the Subscription Economy Save Financial Services?
Going back to the pre-Covid “normal” is not an option for financial services. Fortunately, the rise of the subscription economy points towards frontiers of untapped growth for the sector.

As the world waits for mass vaccination to revive economic activity, general malaise has overtaken the financial services industry (FSI). And things will probably worsen before they get better: US banks are expected to suffer US$318 billion in net loan losses by the end of 2022, according to Deloitte.
-
Economics6 days ago
1.7 million Thais without smartphones register for "Rao Chana" benefits
-
National1 week ago
Thailand to further ease COVID-19 restrictions
-
Business1 week ago
THAI airways to sell training center building to raise more funding
-
Ecommerce1 week ago
Will Covid-19 unleash a new generation of digital nomads?