THAI reports a consolidated net loss of 9,117 mil Baht for the first nine months of 2014

[webfact]

Thai Airways International today reported a consolidated net loss of 9,117 million baht for the first nine months of this year.

BANGKOK: -- The loss represented a 2,864 million baht increase from the same period last year, said Thai acting president ACM Siwakiat Jayema.

However he said the third quarterly performance of this year showed THAI and its subsidiaries have recorded profits of 1,097 million baht, breaking down to 1,086 million baht generated by THAI, as compared with 6,182 million baht net loss for the third quarter in 2013.

He attributed the loss for the past nine months to the tourism industry which is still not returning normal.

Source: http://englishnews.thaipbs.or.th/72451/

-- Thai PBS 2014-11-14

[ratcatcher]

"He attributed the loss for the past nine months to the tourism industry which is still not returning normal."

The tourism industry eh?

Is there any other area to lay blame for such losses? Management? or Ms Management.

[Pierrefun]

9,117 million baht

2,864 million baht

1,097 million baht

1,086 million baht

6,182 million baht

Is there something wrong with using the word "billion" ?

[steelepulse]

Well if it wasn't tourisms fault, then it would be the stars weren't aligned right's fault, or perhaps competitors with cheaper pricing and better product's fault, or, or, or.............. It'll never be THAI's fault with their mismanagement, over pricing, giving away freebies to mp's etc.

[webfact]

THAI suffers nine billion baht loss in nine months



BANGKOK: -- Thai Airways International today reported a consolidated net loss of 9,117 million baht for the first nine months of this year.

The loss represented a 2,864 million baht increase from the same period last year, said THAI acting president ACM Siwakiat Jayema.

However he said the third quarterly performance of this year showed THAI and its subsidiaries have recorded profits of 1,097 million baht, breaking down to 1,086 million baht generated by THAI, as compared with 6,182 million baht net loss of the third quarter in 2013.

He attributed the loss for the past nine months to the tourism industry which is still not returning normal and tough competition in the industry, particularly from low cost airlines, fleet expansions, and opening of new routes.

As a consequence, THAI suffered a 15% drop in passengers from 16.20 million in the same period last year to 13.77 million this year.

The average number of seats sold per flight slipped to 70%, down nearly 10 percentage points from one year earlier.

He also said the average number of seats sold per flight in the third quarter also slipped to 71.1% from 75.3% last year.

Besides loss from asset depreciation also rose 66.2% or 2,086 million baht higher than last year to 5,237 million baht, he added.

Source: http://englishnews.thaipbs.or.th/thai-suffers-nine-billion-baht-loss-nine-months/


-- Thai PBS 2014-11-14

[ratcatcher]

9,117 million baht

2,864 million baht

1,097 million baht

1,086 million baht

6,182 million baht

Is there something wrong with using the word "billion" ?

Apparently not at The Nation ( Former prime minister Thaksin Shinawatra has already been a billionaire with a net worth of more than Bt60 billion .)

The Thais say "pan laan" or 1,000 million.

This report is from Thai PBS, maybe they haven't caught on yet.?

[Katipo]

Any yet Air Asia is managing to earn generous profits (although they aren't what they could have been, admittedly).

No, I think this years losses are caused by the same big stinking pile of nepotism, corruption, and mismanagement that the losses from all the previous years were caused by.

[Lupatria]

With 99 planes in the fleet 9 of them more than 20 years old (http://www.planespotters.net/Airline/Thai-Airways-International) and more than 80 vice directors (vice presidents?) I'm not surprised alt all. Get someone who actually can do the job instead of appointing retired generals to run the circus.

[Sydebolle]

Close the shop and leave it to those operators who managed to run CNX-BKK on a 20/30 minutes schedule between DD, FD, WE etc.

[Sydebolle]

A seriously obese ACM (Air Chief Marshal) said publicly some 20+ years ago "Thai sucks" and guess what = he is still right!

[ezzra]

Take you marketing people and throw them to the deepest shit hole you can find because they sucks,

I fly using several airlines in and out of Thailand for many years, and I'm always bombarded with

reminder emails, deals,promotion and special fare s and lots of other stuff that some time I find useful,

But with TG, I get maybe twice a year and even those don't contain any thing I'd like to read,

TG is an airline full of it self, thinking that if the customers want to fly, they will come to us,

guess what TG... you're dead wrong and you're losing tones of business to all the others that

are nibbling at you heels....

[ALLSEEINGEYE]

why can't Thai's be trained to count properly? 1,000 million is a Billion!!! It ain't freekin rocket surgery.

[klauskunkel]

THAI, it's just another pile of rice.

[Seelow]

Having just traveled Thai Air from Hong Kong -Bangkok return all I can say is" Never again will I use this airline."

The plane was well past it's sell by date, seats incredibly uncomfortable with leg room for a midget, and the inflight "meal" was a cardboard box of luke warm mess.

Never again!

[yellowboat]

It is also symptonmatic of wealth disparity, when all your wealth is spread among so few. I know very few Thais that can afford to fly Thai Airways.

[Searat7]

With 99 planes in the fleet 9 of them more than 20 years old (http://www.planespotters.net/Airline/Thai-Airways-International) and more than 80 vice directors (vice presidents?) I'm not surprised alt all. Get someone who actually can do the job instead of appointing retired generals to run the circus.

Funny they don't show the infamous A340's as being stored, wonder if they actually sold the long haul versions or started using them again.

[mrdome]

THAI could be at the head of the pack together with Singapore and Cathay but they have been mismanaged for years.

[ginjag]

I stopped using Thai a long time ago--for the simple reason they vastly increased their fares to get more money/profit. They do not respond to good competition, because they are above competition.

EVA extra leg room BKK London ret, 36,000 bht. Thai less leg room 52,000 baht. BUT Thai had a promotion at the same time but only a 2 week ticket, no refund no change date no this no that. Stick it Thai.

London with Thai 275 seater A340-600, yes the ones that are for sale, because they are gas guzzlers and they are still not filling the aircraft.

[MobileContent]

With 99 planes in the fleet 9 of them more than 20 years old (http://www.planespotters.net/Airline/Thai-Airways-International) and more than 80 vice directors (vice presidents?) I'm not surprised alt all. Get someone who actually can do the job instead of appointing retired generals to run the circus.

Their are a few hundred more directors/assistant directors and the real number is around 400 executives.

400x150,000 x 12 months = 720.000.000

and this does not include the 30+ Executive VP who come in with at least another 250k per month.

THAI has always been an Air Force Club and whoever became the president had to look after everyone down the line.

They should issue one free ticket per year but the whole management ships in for free the whole family on overseas flights.

Possible Revenue loss = 430 x 40,000 Baht x 12 month x 10 family members = 344,000,000 but then again every THAI staff is entitled to free flights for the family so you have thousands who abuse the system.

Not for nothing is the THAI union very strong so to protect the current system inlcuding all those people that enrich them self.

I still wonder why Thai Smile was launched. I personally like the airline but they forecast profit of 5 million Baht within two years plus but somebody made good money in ordering those 16 new Airbus 320-200 and why NokAir (39% owned by THAI) flies Boeing jets but Thai Smile flies Airbus. It all comes down to procurement.

Any way good observation about the many Executive a small airline like THAI has.

[ginjag]

With 99 planes in the fleet 9 of them more than 20 years old (http://www.planespotters.net/Airline/Thai-Airways-International) and more than 80 vice directors (vice presidents?) I'm not surprised alt all. Get someone who actually can do the job instead of appointing retired generals to run the circus.

Funny they don't show the infamous A340's as being stored, wonder if they actually sold the long haul versions or started using them again.

See #19 mate.

[martin81]

Having just traveled Thai Air from Hong Kong -Bangkok return all I can say is" Never again will I use this airline."

The plane was well past it's sell by date, seats incredibly uncomfortable with leg room for a midget, and the inflight "meal" was a cardboard box of luke warm mess.

Never again!

Yes they have gone even longer downhill than before. I recently flew to Vietnam and return with TG and only got the same lousy food as on their domestic routes. Air fare around 9000 B. Beer is only served if specifically asked for.

On airasia I get a decent hot meal for 120 B. Not free but certainly better than TG.

From now on TG will be last choice on regional routes. They are usually more expensive anyway.

Edited November 14, 2014 by martin81

[Daniel Boon]

their online system could use an upgrade ... Scoot and AirAsia have it all over them ...

[AloisAmrein]

Not surprising. Military dictatorship and turmoils do not attract tourists. And the price policy of Thai does the rest. For example: ZRH-BKK is cheaper with Swiss then with Thai (and a lot better).

[Shagz]

tigers cheaper for us western Australians...

[metisdead]

Troll posts and replies have been removed.

[Kiwisailor]

Been flying Thai for years AKL - BKK, return price now $600 NZ more than Qantas and Emirates. This year will see a change for us.

[laobali]

As long as there are cheaper and better alternatives to flying THAI, who actually cares? Management doesn't seem to, so why should the flying public?

[alien365]

It is also symptonmatic of wealth disparity, when all your wealth is spread among so few. I know very few Thais that can afford to fly Thai Airways.

My missus only flies Thai Airways if she is forced to (for the government to reimburse some of her flights she has to fly THAI). She says she hates flying with them as she is treat like a second class citizen. Westerners get instant attention and the Thais have to wait and are apparently treat differently based on the tone of skin and how they are dressed.

[Soiyamoto]

Their always the most expensive so i never use them

[SOTIRIOS]

.it has been mentioned before.Thai Airways..and TOTpay their employees annual bonuses ranging from several months.to possibly years.of their salaries....

...let's do the math....

...but blame it on the tourists again....

...how can this be justified....and why doesn't anyone oversee this and put a stop to it....