Thai airlines suffer big losses in first three quarters - hope for better news now country has reopened

[webfact]

Picture: Naew Na

 

Naew Na reported that three airlines had reported big operational losses in the first three quarters of this year up to the end of September.

 

General manager of Bangkok Airways Phutipong Prasatthongosot

said that income was 3.4 billion baht which was 57.5% down on 2020.

 

This was due mostly to plummeting ticket sales as the country battled the Covid pandemic.

 

There had been 75.9% less flights this year compared to the same period last year and 55.2% less customers. 

 

Though overheads were down the total losses for the company were 2.5 billion baht. 

 

Flights servicing the Phuket sandbox meant some improvement and the company was hoping for better numbers now the country was reopening.

 

The same messages came out of Thai Airways and the company that runs Thai Air Asia.

 

Thai Airways had reported profits but this was due to debt restructuring and asset sales - the reality was 21.4 billion in operational losses. 

 

Air Asia found a near 2.1 billion baht shortfall after income of just 457 million baht in the first three quarters of the year. 

 

-- © Copyright  ASEAN NOW 2021-11-17

 

- Whatever you're going through, the Samaritans are here for you

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

 

Get your business in front of millions of customers who read ASEAN NOW with an interest in Thailand every month - email [email protected] for more information

[ThailandRyan]

However, Thai Airways seems to have been profitable during the same period....hmmm is selling your equipment and recovering the funds spent as well as downsizing your work force and saving money considered a profit.  For myself being a former company owner, that's just recovering losses as far as assets go and not a profit....

[Gsxrnz]

I bet none of them have cut their maintenance expenses and routines, and they are as safe as they ever were even before the pandemic.

 

Read the above carefully.

[ezzra]

Not surprising.. heap more obstacles and silly rules on tourists and Oh, this no alcohol business doesn't help either and see your bottom profits line sinking to the abyss...

[Aussieroaming]

Had the misfortune of having to use a Thai Airways Lounge on code share when I left Bangkok on the weekend. Dismal food and beverage and tatty furniture in the lounge I used is not exactly going to win the hearts and minds of business travellers and gold pass members.

 

Add that to the fact that my one way Thai Airways ticket from Heathrow last year cost 40% more that my current  return ticket price on SIA and its not hard to see why they won't win any customer loyalty.

 

They are a budget airline trying to charge premium rates for their mediocre business and first class products. They do need to step up and refocuse on winning back customers by offering quality as well as convenience. I like the Thai staff, just not the product versus price point being offered.

[itsari]

56 minutes ago, Aussieroaming said:

Had the misfortune of having to use a Thai Airways Lounge on code share when I left Bangkok on the weekend. Dismal food and beverage and tatty furniture in the lounge I used is not exactly going to win the hearts and minds of business travellers and gold pass members.

 

Add that to the fact that my one way Thai Airways ticket from Heathrow last year cost 40% more that my current  return ticket price on SIA and its not hard to see why they won't win any customer loyalty.

 

They are a budget airline trying to charge premium rates for their mediocre business and first class products. They do need to step up and refocuse on winning back customers by offering quality as well as convenience. I like the Thai staff, just not the product versus price point being offered.

Tatty furniture indeed , have they no idea what a Australian business traveler or gold pass memebr  expects in this day and age ?

 

[hotchilli]

5 hours ago, webfact said:

Thai Airways had reported profits but this was due to debt restructuring and asset sales - the reality was 21.4 billion in operational losses.

Don't you just love Thai spin.

[AseanLao]

13 minutes ago, itsari said:

Tatty furniture indeed , have they no idea what a Australian business traveler or gold pass memebr  expects in this day and age ?

 

 

They should be serving Wallaby Burgers and Dingo Pie, also some concrete hospitality suites with stylish "metal bar" views of the runway to make those discerning Aussies feel right at home,

[RichardColeman]

If the farce pass and daft demands continue much longer, you can pretty much say they will lose next years business too

[itsari]

7 minutes ago, AseanLao said:

 

They should be serving Wallaby Burgers and Dingo Pie, also some concrete hospitality suites with stylish "metal bar" views of the runway to make those discerning Aussies feel right at home,

Come on , they are spoilt enough as it is 

[Sydebolle]

„Thai Airways had reported profits but this was due to debt restructuring and asset sales - the reality was 21.4 billion in operational losses.“

This, combined with the net profit of THB 51 billion, which they officially declared, makes a loss of 72 billion Thai Baht which is a staggering USD 2.4 billion. 

Give these experts a medal, nobody ever achieved such a financial fiasco - well done boys, keep up the good work. 

Explains possibly, why everybody still waits for refunds which will never come ..........

[Graham8888]

11 hours ago, itsari said:

Tatty furniture indeed , have they no idea what a Australian business traveler or gold pass memebr  expects in this day and age ?

 

Obviously not - last time i flew last year with thai on a plane that looked like it had been dragged off the beach at Dunkirk . 

[jacko45k]

21 hours ago, ThailandRyan said:

Thai Airways seems to have been profitable during the same period....hmmm

Creative accounting?

[zzaa09]

16 hours ago, hotchilli said:

Don't you just love Thai spin.

That's not spin. That's BS.