Loss-ridden Thai Airways International (THAI) has announced steps to cut expenditure and increase revenue, in a bid to tackle its accumulated debt of 100 billion baht.
THAI president Sumeth Damrongchaitham said intense competition had affected all airlines’ operating results, and was coupled with recurring issues they were trying to fix. In the 11 months he had been in the job, "there was never a day without a problem", he said.
The national airline has been hit by external crises such as the strong baht, US-China trade war, sluggish global economy and the closure of Pakistani airspace. As a result, tourists numbers declined and customer purchasing power reduced, in addition to delayed engine repairs by the manufacturer.
Management recently brainstormed ideas to establish guidelines and strategies to increase revenue and reduce expenses as quickly as possible.
"With these ... strategies, we believe THAI will return to its position as one of the top world class airlines, although not as soon as we hoped. This all depends on the support of Thai passengers who still love THAI, who can help by flying with our airline, use our services, and by making recommendations under the #SaveTG concept. All employees and I are confident that we will accomplish our goal,” said Mr Sumeth.
