Thai Airways International has reported a loss in the second quarter of this year because of several negative factors, though the amount was smaller than in the same period last year. The carrier lost US$159 million in the April- June period, compared with a loss of over $271 million a year earlier, when it was badly affected by the oil price spike and a huge foreign-exchange loss. It also wiped out a good part of the net profit of $231.2 million that Thai Airways recorded in the first quarter. … [Read more...] about Thai Airways International
Thai Airways
Thai Airways foresees tumbling revenue and profit
Thai Airways International foresees revenue falling 18 per cent this year, from Bt220 billion (US$6.2 billion) to Bt180 billion, due to the economic turmoil. Board chairman Surachai Tansitpong said the airline planned to reduce annual operating costs 5-10 per cent, with an immediate 3 per cent cut which will save about Bt6 billion alone. The company waived annual commission payments and froze salary adjustments in last year¡¯s budget. THAI is expected to post a net loss of more than Bt10 … [Read more...] about Thai Airways foresees tumbling revenue and profit
