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THAI to lease, sell aircraft to turnaround after big losses in 1H


webfact

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Maybe they could have a look at the Qantas setup from not very long ago,they were in the red at some extremely high level,can't remember the numbers,but now their back in the black with a good share price,Emirates got a high level desk jockey from Qantas few years to assist in running their business and look at them now,but this is TIT,as we know Thais know better.

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2 hours ago, marko kok prong said:

They have been in crisis now for two or three years,my only surprise is they are still operating,with these sort of losses,if it continues,they will go under, unless the Govt bail them out,which from the report seems unlikely.

 

Well, it's defacto the national carrier. Loss of face more important than loss of money.

I think other airlines a la Nok Air are also struggeling, but it's kinda a worldwide thing - Ryan Air is also closing down shop in many european destionations a la teneriffe.

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Plane spotters.net shows the following 

 

Active fleet - planes stored

B747    1

B777    1

B787    1

 

inactive fleet- planes stored

A300.   2  (plus 2 preserved whatever that means)

A340.   9. (Was 10 but RTAF took one)

A330.   8

B737.    3

B747.    8

 

if this is accurate they need to address this problem before purchasing new planes. I note the article does not list any plane by model. 

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Thai airways reports loss of 122% in Q2

 

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BANGKOK,14th August 2019 (NNT) - Thai Airways reports the loss of 6.8 billion in the second quarter of 2019

 

Thai Airways has sent a filing to the Stock Exchange of Thailand, reporting a net loss of 6.8 billion baht in the second quarter of 2019, equaling 122% compared to last year, while its year-on-year revenue decreased by 10%.

 

Mr. Sumeth Damrongchaitham, The airline’s President, said the factors include the strongest Thai baht in 7 years, leading to a difficult competitive environment due to its inability to reduce the ticket price. The 5% increase in the value of the Thai baht since beginning of the year also cost the national carrier lose 5%

 

Additionally, the airline’s revenue is affected by the conflict between India and Pakistan, which means the airline lost a number of Pakistani passengers, reducing number of Chinese tourists due to the Yuan appreciation compared to Thai baht, reflecting a change of destination choice from Thailand to other countries such as Japan, South Korea and Vietnam.

 

For external factors, Mr. Sumeth blamed the 12 aircraft grounded for maintenance, which leads to a decrease in the number of flights.

 

However, the Airline plans to open a new route to Sendai city in Japan, as the Japanese market accounts for one third of the total revenue of the carrier.

 

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36 minutes ago, webfact said:

For external factors, Mr. Sumeth blamed the 12 aircraft grounded for maintenance, which leads to a decrease in the number of flights.

And of course, this isn’t part of the normal operation of an airline is it? What a ridiculous statement. So does this mean that in order to make a profit the airline shouldn’t maintain its aircraft? Scary. Lol. 

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For the amount of tourists that has been arriving in the past decade yet they can't turn a profit.... truly incompetent. Its not as if THAI airway fares are overprice, if you buy it outside of Thailand THAI prices are competitive, this is the same for any airlines (lets not talk about how much it cost to fly THAI from Thailand to another destination).

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6 hours ago, marko kok prong said:

unless the Govt bail them out,which from the report seems unlikely.

Thai Gov will definitely bail them out with tax-payers' money.  The hi-sos need free tickets to every where; it's a perk of the job.

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Fully expect an order for some Concordes and naturally Boeing Maxs. If there is one thing you can definitely predict in Thailand its THAI's continuing spiral downwards.

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