Popular Post JeffersLos Posted February 25, 2021 Popular Post Share Posted February 25, 2021 Maybe they could sell training courses on corruption, perhaps taught by their nephews. 2 2 Link to comment Share on other sites More sharing options...
essex boys Posted February 25, 2021 Share Posted February 25, 2021 I had my booking for a flight in may 2020 cancelled, then my flight in September 2020 cancelled, I looked yesterday on Thai airways to maybe get a refund but the way the refund policy was worded would suggest that I would probably never get the refund in my lifetime, so I extended my ticket duration untill the end of December 2022...making the assumption that Thai airways will still exist.. 2 Link to comment Share on other sites More sharing options...
Popular Post gunderhill Posted February 25, 2021 Popular Post Share Posted February 25, 2021 You'd get more money doing this methinks. THAI airways to sell ass to raise more funding 1 2 Link to comment Share on other sites More sharing options...
connda Posted February 25, 2021 Share Posted February 25, 2021 Perhaps it would be better if they company changes its focus to retail baked goods and sells of the airline business to more capable hands. 1 Link to comment Share on other sites More sharing options...
dallen52 Posted February 26, 2021 Share Posted February 26, 2021 Does it actually own any assets to sell? Link to comment Share on other sites More sharing options...
dallen52 Posted February 26, 2021 Share Posted February 26, 2021 16 hours ago, essex boys said: I had my booking for a flight in may 2020 cancelled, then my flight in September 2020 cancelled, I looked yesterday on Thai airways to maybe get a refund but the way the refund policy was worded would suggest that I would probably never get the refund in my lifetime, so I extended my ticket duration untill the end of December 2022...making the assumption that Thai airways will still exist.. Watch this date.. March 1st. If an acceptable plan isn't in place, its game over.. They have already had multiple extensions since August 2020. Link to comment Share on other sites More sharing options...
dallen52 Posted February 26, 2021 Share Posted February 26, 2021 18 hours ago, KannikaP said: To whom? The government moved to reduce its holdings down to 48% last year when all this started. Thus removing its liabilities. 1 1 Link to comment Share on other sites More sharing options...
mtls2005 Posted February 26, 2021 Share Posted February 26, 2021 Ouch. Not the best landing ever. That'll leave a mark. THAI Announces Operating Results 2020 https://www.thaiairways.com/en_TH/news/news_announcement/news_detail/THAI-Announces-Operating-Results-2020.page Thai Airways plunges to record full-year net loss; faces possible delisting Thai Airways has reported its worst-ever full-year net loss – dragged down by significant one-time costs – as it faces possible delisting from the Stock Exchange of Thailand (SET) because of negative equity. For the year ended 31 December, Thai, which is in the middle of debt restructuring, posted a net loss of Bt141 billion ($4.69 billion), widening the Bt12 billion net loss it reported in 2019. https://www.flightglobal.com/airlines/thai-airways-plunges-to-record-full-year-net-loss-faces-possible-delisting/142610.article 2 Link to comment Share on other sites More sharing options...
realfunster Posted February 26, 2021 Share Posted February 26, 2021 15 minutes ago, mtls2005 said: Ouch. Not the best landing ever. That'll leave a mark. THAI Announces Operating Results 2020 https://www.thaiairways.com/en_TH/news/news_announcement/news_detail/THAI-Announces-Operating-Results-2020.page Thai Airways plunges to record full-year net loss; faces possible delisting Thai Airways has reported its worst-ever full-year net loss – dragged down by significant one-time costs – as it faces possible delisting from the Stock Exchange of Thailand (SET) because of negative equity. For the year ended 31 December, Thai, which is in the middle of debt restructuring, posted a net loss of Bt141 billion ($4.69 billion), widening the Bt12 billion net loss it reported in 2019. https://www.flightglobal.com/airlines/thai-airways-plunges-to-record-full-year-net-loss-faces-possible-delisting/142610.article I am sure THAI will rise again like a phoenix from the flames...or maybe not. Anyway, sometimes massive crises like COVID create the pressures and conditions for long overdue changes, such as at THAI. Elsewhere today, the military are even talking about reducing the number of generals, so it seems every crisis has a silver lining. Link to comment Share on other sites More sharing options...
Popular Post elgenon Posted February 26, 2021 Popular Post Share Posted February 26, 2021 Time to hire an outside corporation to fun the darn thing. My friend, a retired airline pilot and former air force pilot, would tell me the quality of the different airlines. He would always mention that air crews at Thai got their jobs by working connections, not by merit. A little scary? I would assume the execs are same same. 4 Link to comment Share on other sites More sharing options...
Jimbo2014 Posted February 26, 2021 Share Posted February 26, 2021 (edited) On 2/25/2021 at 9:05 AM, Patong2021 said: Thai Airways is primarily an international airline. Prior to Covid shutdown iits domestic business was much smaller than its inernational. . How would you expect an international airline which flies widebodies with 300-500 pax to compensate for that loss with narrow bodies that carry 162-168 pax? If you look at domestic market share; Air Asia -35%, Thai Lion - 20% - Nok -18%. This leaves less than 30% of domestic market to Thai subsidiary Thai Smile. I don't think you are are fair and honest to Thai Airways. Thai airways has been an appallingly run business for a long time. Annual profits for the four years prior to Covid below. Its been mired in cronyism, nepotism, bad management, aging aircraft etc.. Pity the poor shareholders. Scammed. Annual profits below −(minus) 12,042 million baht (2019) −(minus) 11,625 million baht (2018) -(minus) 2107 million baht (2017) +15.14 million baht (2016) etc... Edited February 26, 2021 by Jimbo2014 Link to comment Share on other sites More sharing options...
whiteman Posted February 26, 2021 Share Posted February 26, 2021 When will they ever learn? Quite a few of big business are run like this in Thailand. As you know when you have total control of the company 51% and up what does one expect. Get overseas experience in to most of theses companies and what them fly 1 Link to comment Share on other sites More sharing options...
Andrew65 Posted February 26, 2021 Share Posted February 26, 2021 2 hours ago, realfunster said: I am sure THAI will rise again like a phoenix from the flames...or maybe not. Anyway, sometimes massive crises like COVID create the pressures and conditions for long overdue changes, such as at THAI. Elsewhere today, the military are even talking about reducing the number of generals, so it seems every crisis has a silver lining. If it weren't state owned Thai would've gone bust 10-15 years ago. 2 Link to comment Share on other sites More sharing options...
Huckenfell Posted February 27, 2021 Share Posted February 27, 2021 22 hours ago, elgenon said: Time to hire an outside corporation to fun the darn thing. My friend, a retired airline pilot and former air force pilot, would tell me the quality of the different airlines. He would always mention that air crews at Thai got their jobs by working connections, not by merit. A little scary? I would assume the execs are same same. Yes all 700 + of them. And they all get free flights with their families. Link to comment Share on other sites More sharing options...
Andrew65 Posted February 27, 2021 Share Posted February 27, 2021 2 minutes ago, Huckenfell said: Yes all 700 + of them. And they all get free flights with their families. I may be right in saying that Thai Airways still only hires Thai nationals as pilots? Link to comment Share on other sites More sharing options...
elgenon Posted February 27, 2021 Share Posted February 27, 2021 16 minutes ago, Huckenfell said: Yes all 700 + of them. And they all get free flights with their families. Ahh! The good life! Government employees may not make a huge amount but there's always a bit of squeeze on the side. Link to comment Share on other sites More sharing options...
mtls2005 Posted February 27, 2021 Share Posted February 27, 2021 19 hours ago, bloodyholly said: Meanwhile in another office further down the corridor..... “The national flag carrier of Thailand, Thai Airways, is reportedly looking to buy between 20 and 30 aircraft when it expects the aviation industry to have recovered in 2025. The plan is to refresh its fleet of aircraft with newer fuel-efficient planes as it recovers from the fallout brought about by the COVID-19 pandemic” Lease, not buy. Heard this rumor, assume it's in the "plan", which is to pivot to 787/A350 Y/J direct, non-stop, low price. Not sure this will work. In fact I know it won't. 2 Link to comment Share on other sites More sharing options...
Andrew65 Posted February 27, 2021 Share Posted February 27, 2021 3 minutes ago, mtls2005 said: Lease, not buy. Heard this rumor, assume it's in the "plan", which is to pivot to 787/A350 Y/J direct, non-stop, low price. Not sure this will work. In fact I know it won't. There's also where they are gonna find the billions to buy the planes, or $500,000 - $1 million a month to lease them? 1 Link to comment Share on other sites More sharing options...
orchis Posted February 27, 2021 Share Posted February 27, 2021 Get off your assets. 1 Link to comment Share on other sites More sharing options...
mtls2005 Posted February 27, 2021 Share Posted February 27, 2021 13 minutes ago, Andrew65 said: There's also where they are gonna find the billions to buy the planes, or $500,000 - $1 million a month to lease them? Well, that will be in the "plan". Obviously. Assume it calls for rattling the cup towards current creditors, then widening the field. Other than a share (stock) in the "new" airline, can't see them offering much other than bonds/interest? Look, I expect the "plan" to be underwhelming, but will wait to see it before passing absolute judgement. Management, employees have a long, long, long road ahead, assuming some sort of exit from bankruptcy does occur. Link to comment Share on other sites More sharing options...
Andrew65 Posted February 27, 2021 Share Posted February 27, 2021 1 minute ago, mtls2005 said: Well, that will be in the "plan". Obviously. Assume it calls for rattling the cup towards current creditors, then widening the field. Other than a share (stock) in the "new" airline, can't see them offering much other than bonds/interest? Look, I expect the "plan" to be underwhelming, but will wait to see it before passing absolute judgement. Management, employees have a long, long, long road ahead, assuming some sort of exit from bankruptcy does occur. One way of looking at it, the COVID19 crisis has given them some breathing space, there haven't been many places that they can fly to anyway?!???? Link to comment Share on other sites More sharing options...
metisdead Posted February 27, 2021 Share Posted February 27, 2021 A post with unattributed content that was copy and pasted from some site without a supporting link has been removed. Link to comment Share on other sites More sharing options...
Stargeezr Posted February 28, 2021 Share Posted February 28, 2021 I used to see the money amount that airlines supposedly lost, and would wonder how they were still in business. Then I finally noticed that it was only a loss of the profits they were forecast to make. If Thai Air does go bankrupt, for sure, then I will know that they have actually lost too much money, and all the rich people in the background have lost money as well. For now this airline has way too many people as execs etc, and really needs to get rid of most of them. Maybe then they have a slight chance to survive. Geezer Link to comment Share on other sites More sharing options...
Mr Meeseeks Posted February 28, 2021 Share Posted February 28, 2021 With these latest figures, and given TG had a debt of about thb350 billion prior to COVID, the total debt must be nudging thb500 billion now. ???? Link to comment Share on other sites More sharing options...
herfiehandbag Posted February 28, 2021 Share Posted February 28, 2021 On 2/27/2021 at 9:30 AM, Andrew65 said: I may be right in saying that Thai Airways still only hires Thai nationals as pilots? I believe that they would consider hiring a Burmese, if he was prepared to live in a shack at the back of the control tower, and work for ThB 250 a day, 28 days a month. Link to comment Share on other sites More sharing options...
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