Thai Airways set to present restructure plans to government
25 / 02 / 2015
Loss-making Thai Airways International is to seek Thai government approval for its revised restructuring plan in January 2015.
There is no news yet on whether the planned restructure will impact Thai’s cargo division. The carrier has two B747 freighters in its current fleet.
The airline posted a third-quarter net profit of baht 1.09bn ($33.2m), a figure boosted by a huge foreign exchange gain. Its nine-month net loss was still baht 9.2bn as domestic political unrest hit Thai trade and tourism.
The restructuring plan would help improve the carrier’s earnings next year, airline president Charamporn Jotikasthira told reporters in Bangkok.
The carrier is seeking approval for a restructure from the military government which took power in May.
“We had seen rising competition, and the trend will continue,” Charamporn said. “All in all, Thai Air needs to restructure.”
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