webfact Posted November 15, 2019 Share Posted November 15, 2019 THAI losses Bt4.68 billion in Q3 2019 By THE NATION The national carrier Thai Airways International (THAI) announced the turnover of the company and its affiliates in the 3rd quarter of 2019 on Thursday (November 15), reporting a net loss of Bt4.68 billion, 27 per cent higher than last year’s result or Bt994 million. This loss translates to Bt2.14 loss per share, which is Bt0.44 higher than last year or 25.9 per cent. In the third quarter of 2019, the company and its affiliates generated revenue of Bt45.016 billion, which is 6.1 per cent or Bt2.937 billion lower than last year’s revenue. The major cause for the dip in revenue was cited as negative factors in global economy that have reduced customers’ need to travel and transport products, as well as increased competition from low-cost airlines. The company and its affiliates have an accumulated expenditure of Bt47.858 billion, which is Bt4.029 billion lower than last year (7.8 per cent), thanks to a 12.2 per cent decrease in fuel costs compared to last year. Furthermore, the company and its affiliates had to set aside Bt2.689 billion as a reserve fund for employees who wished to retire early to be in line with the State Enterprise Labour Committee’s announcement that requires state enterprises to pay early retirement packages equal to 400 days of wages to employees who had been working more than 20 years. The regulation came into effect at the start of the third quarter. In the first nine months of 2019, THAI accumulated a loss of Bt11 billion. Source: https://www.nationthailand.com/news/30378357 -- © Copyright The Nation Thailand 2019-11-15 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
RotBenz8888 Posted November 15, 2019 Share Posted November 15, 2019 Thai airways reputation has plummeted and is only continuing to spiral down. Link to comment Share on other sites More sharing options...
ezzra Posted November 15, 2019 Share Posted November 15, 2019 Buy 2 dozens or more new planes, keep ignoring the low cost competitions, don't streamline your workforce, appoint people who has no idea how to run an airline as the head of Thai and next quarter your losses will double... Link to comment Share on other sites More sharing options...
Orton Rd Posted November 15, 2019 Share Posted November 15, 2019 was smooth as silk, now rough as sandpaper ???? Link to comment Share on other sites More sharing options...
PatOngo Posted November 15, 2019 Share Posted November 15, 2019 Khun Sumet, take a bow! Link to comment Share on other sites More sharing options...
nev Posted November 15, 2019 Share Posted November 15, 2019 Sad to see the decline of the nation's carrier, I used to fly the Sydney to Bangkok route regularly but cost wise now there is better and cheaper options. Link to comment Share on other sites More sharing options...
Maverell Posted November 15, 2019 Share Posted November 15, 2019 It looks like the gravy train for some is running into buffers. Link to comment Share on other sites More sharing options...
JAG Posted November 15, 2019 Share Posted November 15, 2019 It will all, inevitably boil down, to face. If the country ( those who run it) are prepared to put up tens of billions a year to save face, by preventing the national airline from going bust, then it will limp on. If they are prepared to "face" the embarrassment of their national airline going under (unlikely) then it will be game over - at least in its present form. I suspect it will stagger on until either it's financial situation impinges on maintenance and safety, and it loses access to many destinations, or heaven forbid, there is a major disaster. Link to comment Share on other sites More sharing options...
holy cow cm Posted November 15, 2019 Share Posted November 15, 2019 It is still my preference for domestic flying. Link to comment Share on other sites More sharing options...
fredob43 Posted November 15, 2019 Share Posted November 15, 2019 Like all Thai businesses if not doing to well put the price up. I haven't used Thai for years due to their rubbish service. Have to go to the UK at odd times normally use EVA Air Business class. I will have to do that trip next year so looked up prices for non stop. BA, EVA Air, and Thai. BA and Thai were the most expensive for the round trip Thai by over 1.000 UK more than EVA Air. Bet you cant work out who I shall be using. Link to comment Share on other sites More sharing options...
findlay13 Posted November 15, 2019 Share Posted November 15, 2019 That'll fix it! DON'T cut anything from the deadwood at the top don't cut any of the "do you know who I am" perks.Cut staff ,quality and service, and the Thai way,put the prices up Imbeciles. I was in an Air New Zealand lounge a few weeks ago and compared to the Thai Airways Lounge in Bangkok it was so much better quality of food and service. Ok I admit Bangkok was much busier than the airport I was in but even so it left Bangkok for dead. Link to comment Share on other sites More sharing options...
racket Posted November 15, 2019 Share Posted November 15, 2019 But yet tourism has just hit record numbers?! Link to comment Share on other sites More sharing options...
transam Posted November 15, 2019 Share Posted November 15, 2019 10 minutes ago, racket said: But yet tourism has just hit record numbers?! Perhaps the Indians and Chinese don't use Thai Air...???? Link to comment Share on other sites More sharing options...
30la Posted November 15, 2019 Share Posted November 15, 2019 5 hours ago, webfact said: In the third quarter of 2019, the company and its affiliates generated revenue of Bt45.016 billion, which is 6.1 per cent or Bt2.937 billion lower than last year’s revenue. It is definitely clear that many "managers" do not do their job properly! Small council 'instead of buying new aircraft for the "small" sum of 156 billion, sell, make the company that seems to be absolutely too big, a little smaller and more flexible. Go and get suggestions from Alitalia executives ...???? Link to comment Share on other sites More sharing options...
upena Posted November 15, 2019 Share Posted November 15, 2019 Missed that 2.2 Bn loss estimate by just a wee bit. Link to comment Share on other sites More sharing options...
DLock Posted November 15, 2019 Share Posted November 15, 2019 Ok...and the plan to fix this tax-funded boondoggle is? Link to comment Share on other sites More sharing options...
Mavideol Posted November 15, 2019 Share Posted November 15, 2019 5 hours ago, webfact said: The major cause for the dip in revenue was cited as negative factors in global economy that have reduced customers’ need to travel and transport products, as well as increased competition from low-cost airlines. always somebody else fault.... this is the new one ..." people reduced need to travel"... but the competition is showing increased numbers of travelers 555 Link to comment Share on other sites More sharing options...
Mavideol Posted November 15, 2019 Share Posted November 15, 2019 5 hours ago, webfact said: In the first nine months of 2019, THAI accumulated a loss of Bt11 billion. nothing to worry about, baht being appreciated for quite some time, Prayut and the Gang have plenty of cash on hand to keep going, if still trouble, then just appreciate the baht a little more Link to comment Share on other sites More sharing options...
Mavideol Posted November 15, 2019 Share Posted November 15, 2019 5 hours ago, webfact said: The major cause for the dip in revenue was cited as negative factors in global economy that have reduced customers’ need to travel and transport products, as well as increased competition from low-cost airlines. I think the major cause for their declining has to do with their attitude, they (cabin crew and ground crew) though they had the golden goose, they thought that nothing wrong could ever happen to them because of their "fake" smile and "don't care attitude" same as IMO but sooner or later reality, the s..t hit the fan wake up call and things started to go down hill but still they didn't try to adjust to the current travel tendencies, they didn't try to improve nor did they try to provide better service, they just sat around and waited and keep waiting with the same poor attitude Link to comment Share on other sites More sharing options...
jaiyen Posted November 15, 2019 Share Posted November 15, 2019 5 hours ago, nev said: Sad to see the decline of the nation's carrier, I used to fly the Sydney to Bangkok route regularly but cost wise now there is better and cheaper options. We are lucky in Perth. Fare is less than $700 normally and direct flight in 7 hours leaving at 9.30 am. Have lost the 787 and now have a recon A320 but am told the 787 will be back in April. Now, maybe not ! Link to comment Share on other sites More sharing options...
legend49 Posted November 15, 2019 Share Posted November 15, 2019 a net loss of Bt4.68 billion, 27 per cent higher than last year’s result or Bt994 million So less travelers by that statistic. Now who is lying as TAT keeps posting more and more tourists arriving here every month???? Link to comment Share on other sites More sharing options...
legend49 Posted November 15, 2019 Share Posted November 15, 2019 Just now, jaiyen said: We are lucky in Perth. Fare is less than $700 normally and direct flight in 7 hours leaving at 9.30 am. Have lost the 787 and now have a recon A320 but am told the 787 will be back in April. Now, maybe not ! Back on April 1st. Link to comment Share on other sites More sharing options...
new2here Posted November 15, 2019 Share Posted November 15, 2019 I do think that the global economy has been a negative factor — so to that end, I don’t think Thai is off the mark... but... I do think most of their issues are either regional, national or wholly self-inflicted. I DO think investing in new planes - eve now with their losses - *could be* a good play.... again, could be.... but.... I think that’s just one part of a larger process that will have to take place- new planes alone won’t fix the losses in totality. they need to look at revenue management (fares), capacity, network connectivity, lowering their CASM/CASK (cost per available seat mile/kilometer) things like that. What I DO think a new fleet purchase will do for them - and why i would support it - is it would drop their maintenance costs - especially on the more expensive and time consuming larger stage checks which will be. An increasingly larger issue as their 20+ aged 744s and 772s reach cycle time.... plus it will also drive up their operational reliability.. so both are clear positives and have cost savings built in. but I really think they need to focus on the cost side- specifically the controllable costs - versus fixed costs... but along with that must also come a relook at both their fare structure, network (which also looks at utilization rates) and the like. the new plane order in and of itself, I don’t think is either a big problem which will kill them ... nor do I think it’s the lifeline that will save Thai either.. it’s just a part of much larger relook at exactly how does Thai operate - how, where, when, with what and at what fare and cost levels. Link to comment Share on other sites More sharing options...
TallGuyJohninBKK Posted November 15, 2019 Share Posted November 15, 2019 Perhaps Rolls Royce can pitch in and help THAI out??? After all, RR has some history of "donating" money here... Link to comment Share on other sites More sharing options...
maxpower Posted November 15, 2019 Share Posted November 15, 2019 Thai Airways should consider what the country does best when fitting out its aircraft. Link to comment Share on other sites More sharing options...
Bob12345 Posted November 15, 2019 Share Posted November 15, 2019 6 hours ago, PatOngo said: Khun Sumet, take a bow! New to Thailand? That would be admitting guilt, and as you can read all the problems are due to outside factors. Better stay where he is, put his position up for sale as is normal, and be transferred to a better paying inactive job plus a shiny new medal for the efforts when someone offered the right price to take over his job. Link to comment Share on other sites More sharing options...
Cake Monster Posted November 15, 2019 Share Posted November 15, 2019 5 hours ago, JAG said: It will all, inevitably boil down, to face. If the country ( those who run it) are prepared to put up tens of billions a year to save face, by preventing the national airline from going bust, then it will limp on. If they are prepared to "face" the embarrassment of their national airline going under (unlikely) then it will be game over - at least in its present form. I suspect it will stagger on until either it's financial situation impinges on maintenance and safety, and it loses access to many destinations, or heaven forbid, there is a major disaster. Thai are more likely to loose access to funding from Financial Institutions. Nobody will back a 3 legged Horse Link to comment Share on other sites More sharing options...
hotchilli Posted November 15, 2019 Share Posted November 15, 2019 8 hours ago, webfact said: The national carrier Thai Airways International (THAI) announced the turnover of the company and its affiliates in the 3rd quarter of 2019 on Thursday (November 15), reporting a net loss of Bt4.68 billion, 27 per cent higher than last year’s result or Bt994 million. This loss translates to Bt2.14 loss per share, which is Bt0.44 higher than last year or 25.9 per cent. Time to pull the plug on a dying business! Link to comment Share on other sites More sharing options...
Destiny1990 Posted November 15, 2019 Share Posted November 15, 2019 On the sunny side i read that thousands of new factories are about to take of. Link to comment Share on other sites More sharing options...
Srikcir Posted November 15, 2019 Share Posted November 15, 2019 13 hours ago, webfact said: THAI losses Bt4.68 billion in Q3 2019 THAI recently called off hiring 200 flight attendants. That should help the airline back into the black for Q4 2019! Not. Link to comment Share on other sites More sharing options...
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