Popular Post webfact Posted November 2, 2021 Popular Post Share Posted November 2, 2021 Photo from thaiairways.com Struggling national flag carrier Thai Airways International expects to make a profit in 2024 if the government’s policy of reopening Thailand to foreign arrivals proceeds smoothly, said Piyasvasti Amranand, chairman of the Rehabilitation Plan Administrators, on Monday. He said that the company, which is undergoing bankruptcy-protected restructuring, has managed to cut operational costs by more than 44.8 billion baht, which includes changes of aircraft rental and maintenance contracts, sale of the company’s land and buildings, reduction of fringe benefits for its employees and a 50% reduction in the work force. He also said, however, that the airline is in need of a fresh injection of cash and is about to begin negotiations with financial institutions for 25 billion baht in loans, to compensate redundant employees and to refund customers bought air tickets in advance, after a promise by the government to inject another 50 billion baht may not be forthcoming due to fiscal limitations and other political reasons. Full story: https://www.thaipbsworld.com/thai-airways-hopes-to-return-to-operational-profit-in-two-years/ -- © Copyright Thai PBS 2021-11-02 - Whatever you're going through, the Samaritans are here for you - Follow ASEAN NOW on LINE for breaking COVID-19 updates 12 Link to comment Share on other sites More sharing options...
Popular Post fangless Posted November 2, 2021 Popular Post Share Posted November 2, 2021 Is Thailand now the HUB of Crystal Ball manufacturing! Yet another unfounded "Forecast" by a Thai Authority/Establishment. 1 4 Link to comment Share on other sites More sharing options...
Popular Post mtls2005 Posted November 2, 2021 Popular Post Share Posted November 2, 2021 5 minutes ago, webfact said: He also said, however, that the airline is in need of a fresh injection of cash Way to bury the lede. 4 Link to comment Share on other sites More sharing options...
alyx Posted November 2, 2021 Share Posted November 2, 2021 Let’s hope …and…nope…it is purely an egoistical wish: I have got a bit less than 500 K Baht strapped in tickets and vouchers ???? Link to comment Share on other sites More sharing options...
Popular Post Doctor Tom Posted November 2, 2021 Popular Post Share Posted November 2, 2021 (edited) Haha, laugh of the day. How about paying back the billions of Baht in State aid given to this basket case of an airline? Any company can be 'profitable' if its losses keep getting written off by the State, just ask Qatar. Edited November 2, 2021 by Doctor Tom 4 1 Link to comment Share on other sites More sharing options...
kevin612 Posted November 2, 2021 Share Posted November 2, 2021 2 years x 5=10, always expect from the worst scenario. Link to comment Share on other sites More sharing options...
ezzra Posted November 2, 2021 Share Posted November 2, 2021 "hope is the thing with feathers" Not wings made out of metal and run by "hopeful" people... 1 Link to comment Share on other sites More sharing options...
Popular Post Zikomat Posted November 2, 2021 Popular Post Share Posted November 2, 2021 And I bet on another” bankruptcy-protected restructuring” somewhere in 2023. 3 2 Link to comment Share on other sites More sharing options...
Popular Post lujanit Posted November 2, 2021 Popular Post Share Posted November 2, 2021 Thai Airways is a dead pig and should be treated as such. That the Hi-So and generals are feeding off the dead pig to the last baht it just won't happen. 3 Link to comment Share on other sites More sharing options...
Popular Post tingtong Posted November 2, 2021 Popular Post Share Posted November 2, 2021 Thai airways a long time money pit...unlikely to change in the next 2 or even 20yrs. 4 Link to comment Share on other sites More sharing options...
RafPinto Posted November 2, 2021 Share Posted November 2, 2021 How is the "food selling" venture doing? Operational profit in 2 years? Be careful that your aircrafts won't be confiscated abroad. 1 1 Link to comment Share on other sites More sharing options...
Geoffggi Posted November 2, 2021 Share Posted November 2, 2021 Stop all the government/military personnel travelling free of charge ........... 1 Link to comment Share on other sites More sharing options...
Popular Post JonnyF Posted November 2, 2021 Popular Post Share Posted November 2, 2021 Why would they want it to be profitable? Currently the well connected bleed it dry with free first class flights, well paid positions for retired Generals that do nothing and have absolutely no experience running an airline, backhanders from ridiculously overpriced purchasing contracts etc. and then every few years the tax payer pays off the massive debts that have accumulated from such malpractice. It's a vehicle to transfer money from the tax payer into the pockets of the well connected. It's serving it's purpose the way it is. As long as they can continue to repackage the tax payer funded bailouts as bankruptcy protected "restructuring" then they're good to go for a few more years. 3 1 Link to comment Share on other sites More sharing options...
Walker88 Posted November 2, 2021 Share Posted November 2, 2021 I'm not sure Thai Airways was ever profitable---at least using GAAP---so returning to what never was is a tall order, especially in a post-Covid world. There's a fine line between optimism and delusion, perhaps, but this one is easy to see. 1 1 Link to comment Share on other sites More sharing options...
trainman34014 Posted November 2, 2021 Share Posted November 2, 2021 Will never happen unless they bring in Western Management with years of Airline operating experience and that's not going to happen as way too sensible for Thai minds to fathom ! 1 Link to comment Share on other sites More sharing options...
clivebaxter Posted November 2, 2021 Share Posted November 2, 2021 No problem, smooth as sandpaper, people will be lining up to pay their over the top prices ???? Link to comment Share on other sites More sharing options...
Popular Post tomazbodner Posted November 2, 2021 Popular Post Share Posted November 2, 2021 1 hour ago, Geoffggi said: Stop all the government/military personnel travelling free of charge ........... Last time, Piyasvasti Amranand, chairman of the Rehabilitation Plan Administrators, was chairman of Thai Airways, he did just that and got promptly replaced. His reign was also the only time in recent history that Thai Airways was profitable. Hence there could not be a better man in charge of TG than this. But of course, what happens when hi-so no longer get free 1st class tickets and what strings they are capable of pulling to get their "benefits" back is another story... 4 Link to comment Share on other sites More sharing options...
Misterwhisper Posted November 2, 2021 Share Posted November 2, 2021 (edited) 2 hours ago, webfact said: He also said, however, that the airline is in need of a fresh injection of cash I see. Despite all that "restructuring" still a bottomless barrel. Edited November 2, 2021 by Misterwhisper 2 Link to comment Share on other sites More sharing options...
Sydebolle Posted November 2, 2021 Share Posted November 2, 2021 Well, if you hardly fly anywhere then your entire fleet is grounded and the result can be a cut of operational costs by more than 44.8 billion Baht. Does this also include the recovering of more than USD 10 billion (not million)? Just asking the mathematicians at the head office of the "Smooth as Silk" club; better known as 7/11 without a cashier on the way out! Link to comment Share on other sites More sharing options...
soi3eddie Posted November 2, 2021 Share Posted November 2, 2021 2 hours ago, trainman34014 said: Will never happen unless they bring in Western Management with years of Airline operating experience and that's not going to happen as way too sensible for Thai minds to fathom ! Not due to sense but nationalistic pride. Thais know best and it would be a loss of face to have any foreigners involved in running their flag carrier airline. Link to comment Share on other sites More sharing options...
sammieuk1 Posted November 2, 2021 Share Posted November 2, 2021 Off to A+E to get my sides stitched up again after reading this prediction ???? Link to comment Share on other sites More sharing options...
Andycoops Posted November 2, 2021 Share Posted November 2, 2021 Utter mumbo jumbo, there is still too much fat on the carcass for the snouts to gobble. Link to comment Share on other sites More sharing options...
hotchilli Posted November 2, 2021 Share Posted November 2, 2021 5 hours ago, webfact said: Struggling national flag carrier Thai Airways International expects to make a profit in 2024 if the government’s policy of reopening Thailand to foreign arrivals proceeds smoothly, said Piyasvasti Amranand, chairman of the Rehabilitation Plan Administrators, on Monday. Another dream. Link to comment Share on other sites More sharing options...
Megasin1 Posted November 2, 2021 Share Posted November 2, 2021 you have to admire the comedic value of these posts ???? Link to comment Share on other sites More sharing options...
MrJ2U Posted November 2, 2021 Share Posted November 2, 2021 Ever optimistic! Link to comment Share on other sites More sharing options...
Dont confuse me Posted November 2, 2021 Share Posted November 2, 2021 That means a substantial price hike. They will simply price themselves out of the market. Typical Asian mentality, they wouldn't dream of lowering the prices and service to make themselves competitive, then once they have a steady increase in bookings slowly increase the prices at best it's a 5 year plan, that's why they will never do it! Link to comment Share on other sites More sharing options...
ronster Posted November 2, 2021 Share Posted November 2, 2021 Been borrowing the TAT calculator ? They were 260 billion bht in debt or something ! ???????????? Link to comment Share on other sites More sharing options...
jacko45k Posted November 3, 2021 Share Posted November 3, 2021 That's it, had my morning giggle. Time to shut the computer down and get on with something! 1 Link to comment Share on other sites More sharing options...
steven100 Posted November 3, 2021 Share Posted November 3, 2021 21 hours ago, webfact said: the airline is in need of a fresh injection of cash and is about to begin negotiations with financial institutions for 25 billion baht in loans, to compensate redundant employees and to refund customers bought air tickets in advance, after a promise by the government to inject another 50 billion baht may not be forthcoming Last one out turn the light off please !! The government was smart in not giving them more cash, and what finance group would even consider lending these thief's 25 billion ?? they'd be crazy ! Thai airways will be gone in a few months when no cash becomes available ..... Link to comment Share on other sites More sharing options...
soi3eddie Posted November 3, 2021 Share Posted November 3, 2021 I'm flying THAI this morning from London to Bangkok. It will be interesting to see how it is after all this time. When I returned in April this year there was no In-Flight-Entertainment nor Alcohol being served. I used a "free" Gold upgrade to business class for today's trip and they hit me with £298 in extra charges (normally just £90 for the extra UK Gov tax). They said it was for "fuel surcharge" and "award" admin fee so they are definitely going about money grabbing to try and turn a profit. I'll certainly enjoy trying to reduce any profit by consuming as much of their Champagne as possible but knowing them, highly expect to hear "No Have Sir". Link to comment Share on other sites More sharing options...
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