THAI to lease, sell aircraft to turnaround after big losses in 1H
By The Nation
THAI's president Sumeth Damrongchaitham speaks to the press on Tuesday. – The Nation
Thai Airways International (THAI) will consider leasing out three new aircraft and selling four existing aircraft to boost its revenue for the rest of this year after the carrier reported a net loss of Bt6.43 billion in the first half of this year, the company’s president Sumeth Damrongchaitham said on Tuesday.
“We expect our total revenue in the second half of this year to be better than the first half, when the baht depreciates now that the Monetary Policy Committee has cut the policy interest rate by 0.25 per cent early this month and September, high season for tourists, arrives,” he said.
The national carrier is planning to boost the number of aircraft leased to European airlines by three and sell four existing airplanes and will propose this plan to its board soon.
The airline will also buy foreign exchange after sustaining losses of 5 per cent when the baht appreciated in the first half of this year compared to the end of last year.
“If we don’t do anything, we will suffer high losses for the rest of this year. We believe our business strategy will reduce our losses in the rest of this year,” he said.
As for the plan to buy 38 new aircraft worth Bt156 billion, it needs to be reconsidered because the government has insisted that the funding for the purchase must come from the company, he said.
Sumeth added that the airline has also announced its cost-saving schemes such as SaveTG Co-Creation, which reduces its management cost without having an impact on its service quality.
The airline is also collaborating with other organisations to reduce its cost by following a zero-waste management policy. THAI is also planning to introduce new direct flights to Sendai, Japan in the last quarter of this year.
THAI is also focusing on digital marketing to boost customers and reduce costs, and is cooperating with its business partners and subsidiary ThaiSmile to provide services and increase its income, he said.
‘Eat, Shop, Spend’ wins 1m subscribers on very first dayBy The Nation The “Eat, Shop, Spend” campaign earned an overwhelming response on Monday (September 23), the very first day of its launch, with close to one million Thais registering. Krungthai Bank set the daily limit for registration at one...READ MORE...
Consumers’ rights to be protected under new MoUBy THE NATION The Electronic Transactions Development Agency (ETDA) last week signed a memorandum of understanding (MoU) with major consumer organizations and private companies on a consumer protection initiative covering products and services sold...READ MORE...
Farmers want solution to falling price of snapper fish A group of fish farmers have called on the government to solve the problem of the falling price of snapper. Pramot Mongkolcheeva, a member of the group that raises snapper, said the price of the fish had fallen from Bt130-Bt140 per kilo to...READ MORE...
Fears for Indian after he is swept away by flooded streamBy THE NATION A file photo, taken on September 23, of a flooded area in Kabin buri district of Prachin Buri province An Indian national has gone missing in a strong, overflowing stream amid floods in Prachin Buri province, prompting a...READ MORE...