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Thai Airways’ losses reach 11 billion baht this year

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Thai Airways’ losses reach 11 billion baht this year | Thaiger
Thai Airways International has announced the turnover of the company and its affiliates for Q3 of 2019, reporting net losses of 4.68 billion baht, a full 27% higher than last year’s result, an additional loss of 994 million baht.

In the third quarter of 2019, the company and its affiliates generated revenue of 45.016 billion baht, which is 6.1% or 2.937 billion baht lower than last year’s revenue.

In the report to shareholders the national carrier reported the major cause for the dip in revenue was “negative factors in the 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 47.858 billion baht, which was 4.029 billion baht lower than last year (7.8%). The report said the saving were due to a 12.2% decrease in fuel costs compared to the same time last year.

In yesterday’s report, the company says it had to set aside 2.689 billion baht 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 Q3.

In the first nine months of 2019, Thai Airways’ accumulated loss is 11 billion baht.

The airline has posted almost a decade of quarterly losses as it grapples with its outdated aviation model and battles with an ageing fleet and top-heavy staffing.

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Business

The Thaiger joins forces with Masii to bring you hassle-free Thailand re-entry packages and much more

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The Thaiger joins forces with Masii to bring you hassle-free Thailand re-entry packages and much more | Thaiger

PRESS RELEASE

The Thiager and its sister company Tadoo, have announced they will enter a strategic partnership with the Bangkok-based fintech company, Masii.

Having joined forces with Masii, The Thaiger aims to provide its 6 million-plus monthly users with exclusive deals and packages such as the Thailand re-entry package, comprising of the Certificate of Entry (COE), Covid-19 Travel Insurance and a Covid-19 Test.

Sapir Matmon, of Tadoo, says “This tie-up will allow us to provide our readers with all-inclusive packages specifically designed to make the whole process of coming back to Thailand as simple as possible. And by booking through us, all service fees will be waived – a saving of more than 1,000 Baht. We’re confident you won’t find a better price in the market right now.”

The Thaiger joins forces with Masii to bring you hassle-free Thailand re-entry packages and much more | News by Thaiger

“We can provide everything you need to enter Thailand hassle-free and within 12 hours, which is the fastest in the market.” Says Maxwell Meyer, CEO of Masii.

Covid-19 has drastically accelerated the industry’s movement toward shifting products and services online.

Sapir says “We are tremendously pleased to welcome the Masii team and work alongside Maxwell, as one of the stars of the local fintech scene.”

Tadoo, The Thiager’s sister company, has also teamed up with Masii on their Thai price comparison platform, tadoo.co, which offers a similar range of products including, insurance, finance, internet, and mobile.

The goal of Tadoo is to bring clarity to the Thai market and assist consumers in making better-informed choices by offering a quick and convenient solution for getting the products they want without the hassle.

For more information on the Thailand Re-Entry Full Package, click HERE.

The Thaiger joins forces with Masii to bring you hassle-free Thailand re-entry packages and much more | News by Thaiger

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Coronavirus (Covid-19)

Aviation authority calling for 20,000 vaccine doses for crew, ground staff

Maya Taylor

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Aviation authority calling for 20,000 vaccine doses for crew, ground staff | Thaiger
PHOTO: Christian Junker on Flickr

The Civil Aviation Authority of Thailand is calling for vaccine doses to protect around 20,000 airline crew and ground staff before the country re-opens to international tourists. The CAAT says it’s vital that those working in the aviation industry are protected and has submitted its request to the Centre for Covid-19 Situation Administration.

According to Suthipong Kongpool from the CAAT, there are around 20,000 airline employees, including crew and ground staff, who will need to be vaccinated. As 2 doses are required, a total of 40,000 doses are needed to fully protect staff. The Bangkok Post reports that the CAAT will meet on Thursday to review the aviation sector’s readiness for when the country re-opens without international arrivals having to quarantine.

Suthipong says they are seeking enough vaccine doses to protect employees of Thai-registered carriers.

“It’s a confidence-building measure for tourists and those providing the services to them.”

From July, the southern island of Phuket will be the first part of the country to waive quarantine for vaccinated international arrivals, subject to 70% of local residents being vaccinated. The “sandbox” project is a pilot programme that will be expanded to other areas if it proves successful. Between October and the end of the year, 5 other provinces – Phang Nga, Surat Thani, Krabi, Chon Buri, and Chiang Mai – are expected to adopt the programme. Officials hope to be able to re-open the country fully from January 2022.

According to the CAAT, the first foreign visitors expected to return to Phuket will be Chinese tourists, given that country’s success in managing the pandemic. Meanwhile, the CAAT says Thailand will see a 7% increase in air traffic this month compared to last, with a total of 36,150 domestic and international flights.

SOURCE: Bangkok Post

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Business

Labour union angry over changes to Thai Airways staff contracts under rehab plan

Maya Taylor

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Labour union angry over changes to Thai Airways staff contracts under rehab plan | Thaiger
PHOTO: Wikimedia

Union representatives are questioning changes made to the employment terms of Thai Airways staff as part of the national carrier’s debt-restructuring plan. The labour union claims the changes have removed or diluted several staff entitlements and welfare benefits, pointing the finger at acting president, Chansin Treenuchagron, who signed the orders.

The union is calling on the Department of Labour Protection and Welfare to review the changes to check if they align with a debt-restructuring plan submitted to the Central Bankruptcy Court. According to a Bangkok Post report, the union believes the signed orders may go against the terms of the rehab plan currently being reviewed by creditors. They include an order related to the company’s new organisational structure, as well as the screening of workers who will continue to be employed by the carrier during and after the rehab process.

Union representatives accuse the airline of changing the terms and conditions of employee contracts, meaning weaker welfare benefits. They are asking the DLPW to confirm if the changes comply with the 1940 Bankruptcy Act, the 1975 Labour Relations Act, and the 1998 Labour Protection Act. The union says that if the changes are found to violate the acts, Chansin should be ordered to cancel the orders and draw up new employment terms that comply with the airline’s rehab plan and with employment law.

SOURCE: Bangkok Post

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