Connect with us

Economy

Thai Airways loses 28 billion baht in the first half of the year

Published

 on 

FILE PHOTO
Thaiger deals Thaiger deals

Embattled, bankrupt Thai Airways suffered about 28 billion baht in losses for the first 6 months of this year, mainly attributable to the Covid-19 pandemic, which has seriously impacted its operations and crushed global travel, grounding fleets and shuttering many airlines altogether. The airline’s acting president said today that the pandemic has led to many countries, including Thailand, closing their borders and imposing lockdown measures, including travel restrictions, resulting in substantial reductions in both domestic and international travel. Thai Airways, he said, has had to reduce its flights in line with reduced passenger loads.

For the first quarter of this year, Charnsin Treenuchagron disclosed that the beleaguered national flag carrier and its affiliated companies recorded 38 billion baht in consolidated revenues, a 23.7 billion baht drop year-on-year, largely due to the drastic reduction in passengers and freight. Expenses for the same quarter amounted to 42.6 billion baht, about 8 billion baht, or 15.8% lower last year, resulting in a loss of 22.7 billion baht.

In the second quarter, the Covid-19 pandemic intensified, affecting air travel worldwide, forcing the Civil Aviation Authority of Thailand to ban all incoming flights temporarily, said Charnsin, adding that Thai Airways was forced to completely suspend operations temporarily.

Despite the incoming flight ban, in place since early April and renewed several times already , he added that the airline continues tightening its belt to maintain its liquidity and operates charter and repatriation flights, disclosing that the number of passengers for the first half of the year had dropped 98.6%, to around 80,000.

For the second quarter, the carrier earned 2.5 billion baht in revenue, compared to 40 billion baht last year. Voluntary reduction of salaries by the management and staff for April through December have reduced the company’s expenses for the second quarter to 16.1 billion baht, about 67.4% lower than last year.

SOURCE: Thai PBS World

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

1 Comment

1 Comment

  1. Rinky Stingpiece

    Saturday, August 15, 2020 at 12:44 am

    Wow. I really don’t see the problem. COVID prunes off a tiny minority of stragglers from the herd, and hiding from it makes no sense, it’s not going away. Thai hospitals could do a roaring trade in treating it tapping into insurance; and new businesses manufacturing ventilators and other kit could thrive.

You must be logged in to post a comment Login

Leave a Reply

Jack Burton is an American writer, broadcaster, linguist and journalist who has lived in Asia since 1987. A native of the state of Georgia, he attended the The University of Georgia's Henry Grady School of Journalism, which hands out journalism's prestigious Peabody Awards. His works have appeared in The China Post, The South China Morning Post, The International Herald Tribune and many magazines throughout Asia and the world. He is fluent in Mandarin and has appeared on television and radio for decades in Taiwan, Mainland China, Hong Kong and Macau.

Follow Thaiger by email:

Crime2 hours ago

VIDEO: Thieves mess with the wrong gold shop owner in northern Thailand

Thailand3 hours ago

Thailand News Today | Immigration Police to Revise Visa Extension Criteria

Expats3 hours ago

Pattaya visa legend dies of cancer

Sponsored10 hours ago

Where you can get cannabis in Bangkok

Tourism3 hours ago

Transport officials expect tens of thousands of bus travellers in Thailand during three-day weekend.

Phuket4 hours ago

Chinese tourist found dead in Phuket

Crime4 hours ago

Overstaying former pro footballer arrested for hawking lottery tickets in Thailand

Join the conversation on the Thaiger Talk forums today!
Thailand4 hours ago

Twitter investigation discovers mass censorship & blacklisting under previous regime

Thailand4 hours ago

Brief history of the Japanese Onsen in Thailand

Patong5 hours ago

Officials say no to floating lanterns and fireworks on Patong Beach

Protests5 hours ago

Teen protestor claims police harassment

Thailand5 hours ago

Thailand’s Full Moon Party attracts 12,000 tourists

Media6 hours ago

License to own unicorn issued by LA animal care authority

Hot News6 hours ago

Eight celebrities to join Japanese tycoon in space venture around the moon

North East6 hours ago

In northeast Thailand, a pretty camping site is being offered for free

Weather7 hours ago

Flash flood warning issued for 9 provinces in southern Thailand

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending