THAI's performance improves and expects to make profits this year

[webfact]

THAI's performance improves and expects to make profits this year



BANGKOK: -- Thai Airways International chalked up net loss amounting to 13.06 billion baht for its performance throughout last year compared to 15.61 billion baht registered in 2014.

Last year’s performance was better than projection by analysts that the national flag carrier was expected to lose up to 14 billion baht.

Despite the net loss throughout the year, the fourth quarter’s performance saw a turn-around with the airline grossing 5,051 million baht in profit while accumulated loss for the first three quarters of the year totaled 18.1 billion baht.

As for this year’s performance, THAI has predicted that it will make profit, amounting to about two billion baht for the whole year.


-- Thai PBS 2016-02-29

[HooHaa]

what utter nonsense.

dare to dream and all that.

[leeneeds]

I too will predict that horse 7 will win in the race number 5 at the next meeting at royal ascot,

[trogers]

"...the fourth quarters performance saw a turn-around with the airline grossing 5,051 million baht in profit"

Was the turn-around from the selling of assets?

[PaullyW]

They are all full of sh$t,​ always. The truth is not a virtue in Thailand

[nong38]

They wont be making any profit from me!

Address the local and global issues that have been highlighted and tempt me with a good offer.

Ready!

[JAG]

Lottery numbers, we want lottery numbers...

[Robbie Dye]

Absolute load of tosh

[ChrisY1]

To turn a major losing airline from massive negative to positive in 1 year is pure fantasy........or more to the point, very clever management.....or dumbass accounting...IMO, the latter

Edited February 29, 2016 by ChrisY1

[CantSpell]

To turn a major losing airline from massive negative to positive in 1 year is pure fantasy........or more to the point, very clever management.....or dumbass accounting...IMO, the latter

They are planning huge savings and extra revenues.... renting a few pilots to Nok Air...

Business case sorted

[Reigntax]

So I assume the Thai airways management will be hauled before the courts for dereliction of duty for allowing these losses to occur.

[bangrak]

When you look at the names (and qualifications/titles) of the members of the board and higher/top management of ALL major Thai companies with a State 'participation', what are the common factors you see... A lot of 'hi-so' members of 'influential' families (old nobility or Sino-Thai), a whole flock of generals (with the odd air commodore and admiral), and the main part being related to politicians (present or old) or 'politically-assisted' characters... How many experienced professionals, specialists in the field...? Oh, and of course, all only with a Thai ID-card, as if Thailand would dispose of, or produce(!?) that many brilliant minds in the field of, f.i. fossil energy (PTT), or air-transport (THAI)...! Sigh, plain middle-ages' situations!

Mind you, it's not much better in big private companies, look at the banks, ...insurance companies(!), building material producers, a.s.o., all with a 'strong link' with, or heavy financial participation (the protectionist 49% maximum shareholding...) of ...Farang international groups, how many rivers of tears are shed at their headoffices abroad, what volume of 'unfriendly' words spoken (internally) about their Thai operation... Just for the sake of 'presence policies' on 'emerging markets'...! And even ASEAN (whenever, ...in the reality of facts!) won't change a lot to it, it's not a lot better in the other 'brother countries' (until they shred one another to pieces for a few crumbs N.B.), but Thailand spans the crown, 'Thailand, the hub', no doubt about it, but, IMHO, in the shere reality (an endless list of dreamt of 'hubby' things, like one every week), only in a list of items one would, with basic common sense, rather want to avoid, or reject because of bad publicity...

Start with corruption and graft (really, I mean, as high as it might reach, also green, brown, white, etc. ...), with (true, decent, of internationally acceptable level of) education, for the long run, and, maybe then, Thailand could, eventually(!) become, in two generations at least, a real, blooming 'Democracy', ...when it has not been eaten raw and long digested by its ASEAN 'brothers', ...or, slowly, softly, by 'big brother' China!

[Hawk]

Thai will never make a profit, ever, it is doomed to slide away into bankruptcy and oblivion.

[jerojero]

Thai will never make a profit, ever, it is doomed to slide away into bankruptcy and oblivion.

Thai Government, present and future, will not allow it to bankrupt....too much loss of face for the Country.

[dundee48]

"Last year’s performance was better than projection by analysts that the national flag carrier was expected to lose up to 14 billion baht."

13.06 billion baht is up to 14 billion baht is it not.

[Ricardo]

There is little to cheer about here, Thai reduced its losses marginally on expectations, but still made a thumping great deficit at a time when its competitors are all making BIG profits, thanks to the low price of fuel.

The recovery-plan depends partly on shedding useless assets, like its old planes, meanwhile they're standing idle & un-productive. Although I must admit that the ongoing fleet-renewal looks on-track, and the benefits of switching from owned-aircraft to leased should be starting to come through soon.

The management needs a drastic shake-up, the leadership need to get the unions thoroughly on-board with the turn-round plans, and some inspired marketing is long-overdue.

I'd just love to be a hatchet-man on the cost-cutting team, with proper backing from the shareholders, but suspect that they will merely be going-through-the-motions. This is after-all Thailand, and one wouldn't want to risk upsetting anybody, by implementing cuts in a desperate attempt to save the company, before the burden of accumulated-losses makes its eventual demise inevitable !

Edited March 1, 2016 by Ricardo

[Srikcir]

fourth quarter’s performance

Did lower oil prices finally catch up to lower fuel costs? Fuel is purchased on "futures" typically 3-months in advance of delivery.

[ezzra]

About 2 billion baht has been set aside for the retiree plans program this year. Last year, a total of 1,401 staff joined the programme which cost the company 3.38 billion baht.

According to my trusted calculator 3.38 bn baht divide to 1,401 ' retirees ' comes out to 2,4 million baht

and small change to each person.... this is from a company that lost 13 bn baht last year and a 15 bn

the year before.... sure.. why not, not their money....

[SOTIRIOS]

...typical rationale....