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Thai Airways submits rehabilitation plan

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Thai Airways submits rehabilitation plan | Thaiger

Thai Airways has submitted a rehabilitation plan in accordance with a Central Bankruptcy Court order after the the receiver’s appointment last September. The airline’s acting president Chansin Treenuchagron says the rehabilitation plans aim to “fully restructure and help the national flag carrier to regain profits”.

In a press release, the company revealed its planned recovery is expected to come from multiple aspects of the airline’s attributes.

“The airline’s planned recovery is expected to come from its strengths from branding, customer loyalty, service-minded employees, a competitive cost base, and Thailand’s unique geographical advantage as the centre of the Asean region.”

Thai Airways will be ready to operate under its new vision… “a private high-quality full-service carrier with a strong Thai brand, connecting Thailand to the world and consistently generating a sustainable profit margin, under the 4 pillars which include being the preferred carrier for travel to and from Thailand tailored to the ability to pay of our core customer segments.”

Thai Airways plans to unbundle the fares offered so that customers can access cheaper basic fares as well as flying only to destinations that are profitable. Such cost competitiveness will require the company to restructure the size of the organisation as well as processes and operating systems. Additional high impact measures Thai has taken include, reducing the number of aircraft types from 12 to 5. The company also plans to invest in digital technology to increase online sales.

Thai Airways has also set up a transformation office, appointing a dedicated chief transformation officer to thoroughly evaluate business opportunities and to execute its transformation plan which has been proven to be highly effective and roust as the method has delivered results in hundreds of similar situations globally, including other Thai companies.

Based on the transformation programme’s projections, it is expected to generate an earnings before interest and tax margin of approximately 10% by 2025.

SOURCE: Nation Thailand

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4 Comments

4 Comments

  1. Avatar

    Fred Johnson

    Thursday, March 4, 2021 at 3:02 pm

    Sounds good. Then they make sure to repay pending customers? or do they drive on as usual and keep the ticket money themselves? Exciting to see, they are not directly known for doing the right thing. Fun offer they run with the new company! Keep dreaming.

  2. Avatar

    Mr cynic

    Thursday, March 4, 2021 at 7:21 pm

    Sound like a fairy tale to me.the brand is damaged beyond repair.there is no goodwill towards this company from the passengers who have lost flights or the many major industry players they are owing big bucks to.the whole company should have been wound up at least 3 years ago.

  3. Avatar

    Krub Krub

    Thursday, March 4, 2021 at 8:24 pm

    But but, it’s a national carrier keeping the Thai flag high, so why should they repay? They should be using Thai work ethics, like the jet ski profit models, military Juntas, international flour dealers in the gov, watch collectors. You know. Mai bpen rai. Krub.

  4. Avatar

    Toby Andrews

    Thursday, March 4, 2021 at 9:28 pm

    Their design is to make enough money to pay the people at the top.
    As for the many people that have lost flights and refunds, they do not matter.
    All the others that they owe money to – they can whistle for it.

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Ann Carter is an award-winning journalist from the United States with over 12 years experience in print and broadcast news. Her work has been featured in America, China and Thailand as she has worked internationally at major news stations as a writer and producer. Carter graduated from the Walter Williams Missouri School of Journalism in the USA.

Road deaths

Songkran’s 7 dangerous days: 2,365 road accidents, 277 deaths

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Songkran’s 7 dangerous days: 2,365 road accidents, 277 deaths | Thaiger
FILE PHOTO: This year saw 30% less deaths and accidents over Songkran week.

We’ve finally reached the end of the Songkran holiday “7 dangerous days”, where over 2,300 road accidents resulted in 2,357 injuries and 277 deaths. Every year Thai officials brace for the surge in holiday travel that brings a surge in accidents as well, but the silver lining of Covid-19 is the reduction in accidents. This year saw a drop of nearly 30% from pre-Covid totals over the 2019 Songkran holiday period. Here’s the final day’s summary and the totals for the week:

DAILY FIGURES

On the final day of the Thai government’s weeklong safety campaign, there were 253 road accidents with 255 injuries and 26 deaths. The provinces with the most deaths were Ubon Ratchathani with 3 deaths, and then Chanthaburi and Phetchabun, both with 2 fatalities in each.

TOTALS

The 277 deaths and 2,357 injuries as a result of 2,365 accidents is a significant reduction from non-Covid years where road accidents and deaths were 30% higher. In 2019, the Songkran “7 dangerous days” totalled 3,338 accidents, with 3,442 injuries and 386 deaths. 2021’s muted Songkran holiday period saw about a thousand fewer accidents and injuries and over 100 fewer fatalities.

Final figures following the trends we saw daily, with 79% of all accidents involving motorbikes with 7% involving pickup trucks, a distant second. Drunk driving was the number 1 cause of road accidents with nearly 37% of all accidents involving alcohol. 28% of accidents were caused by speeding, while sudden lane changes accounted for 18% of incidents. Late afternoons from 4 pm to 8 pm had 29% of road accidents, followed by 21% of incidents that happened earlier from noon to 4 pm.

Highways were the most dangerous, with nearly 40% of accidents happening there. Community or village roads accounted for 36% of accident locations. Teenagers made up the biggest demographic of fatalities, with 15 to 19 year olds making up 15% of deaths. 30 to 39 year olds made up just over 14% of road deaths.

The deadliest provinces over the 7 dangerous days were Pathum Thani with 10 deaths, followed by Bangkok and Chiang Mai, both of which had 9 fatalities. Nakhon Si Thammarat, with 106 incidents, recorded the most road accidents of any province, followed by Chiang Mai with 77 crashes and Songkla with 69.

During the course of the road safety campaign, police and traffic authorities pulled over 2.3 million motorbikes and 100,000 other vehicles, issuing almost 460,000 citations, notably for not wearing helmets, having a driver’s license, or fastening seatbelts.

SOURCE: Bangkok Post

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Economy

Officials not worried Thailand remains on US currency watch list

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Officials not worried Thailand remains on US currency watch list | Thaiger
PHOTO: Thailand is on the watch list for possible currency manipulation.

Thailand remains on the United States Treasury’s “Monitoring List” of countries whose currency trade practices need to be watched, though Thai officials say they are not worried. US Treasury Secretary Janet Yellen releases a foreign exchange report twice a year including labelling alleged currency manipulators and flagging suspect trading partner countries to be monitored.

The Bank of Thailand said remaining on the US currency watch list poses no threat to Thai businesses or the government’s ability to enact policies to promote financial stability. They stress that Thailand has never manipulated currency, using the exchange rate to get a competitive edge or an unfair trade advantage over other countries.

This most recent report tags 11 countries as warranting a closer watch: China, Germany, India, Ireland, Italy, Japan, Malaysia, Mexico, Singapore, South Korea, and Thailand. Mexico and Ireland were the 2 new inclusions, not on the previous report in December 2020. Also in the report, the US Treasury Department toed the line of accusing Switzerland, Taiwan, and Vietnam of manipulating currency.

They stated yesterday that the 3 countries had crossed the line of 2015 US trade laws, but didn’t officially brand them as currency manipulators. The thresholds of that 2015 rule include either global current account surplus or foreign currency intervention over 2% of GDP, and having a trade surplus with the US over US $20 billion trade.

The flagging of Taiwan, Vietnam and Switzerland falls short of applying the manipulator label due to a 1988 law requiring evidence of manipulation to stop balance of payment adjustments or to gain a trade advantage. The US is already engaged in talks with Vietnam and Switzerland and will enter into “enhanced engagement” with Taiwan as well. Not being upgraded to the manipulator title relieves pressure from Switzerland and Vietnam, who both received the label in the last report issued by the Trump administration.

SOURCE: Yahoo Finance and Live Mint

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Coronavirus (Covid-19)

Thai Hotel Association pushes “hospitels” – hotels as hospitals

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Thai Hotel Association pushes “hospitels” – hotels as hospitals | Thaiger
FILE PHOTO: Artist rendering of a "hospitel" - a hotel converted to a hospital.

With the third wave of Covid-19 ripping through Thailand, hospitals are rapidly filling up and the Thai Hotels Association has proposed “hospitels” as a creative solution. The portmanteau of “hospital” and “hotel” is the THA’s brainchild for creating more space for the growing number of Covid-19 infections that require treatment or at least observation as Thailand hits record daily case numbers. The idea of turning hotels into temporary hospitals was promoted by association president Marisa Sukosol Nunbhakdi this week.

“The move aims to reduce crowdedness at hospitals and promote continuous care for Covid-19 patients after new cases increased rapidly since late March.”

23 hotels have already registered to be hospitals, with 2,000 patients currently receiving treatment in the 4,900 available beds. The Ministry of Public Health laid out guidelines for hotels interested in participating. Hotels must have a minimum of 30 rooms and pass the alternative state quarantine evaluation. The ASQ-approved properties must have evidence of acknowledgement by the surrounding community to confirm their validity and eligibility. The hotel must be able and willing to take care of hospitalised patients for 5 to 7 days, even with no signs of symptom progression. Conversely, patients checking in must agree to stay in the hotel and be relatively self-sufficient.

Strict medical requirements must be met as well. Each patient must be provided with their own digital thermometer and pulse oximeter, and a portable x-ray machine must be available. The hotels must be staffed like hospitals, with at least one doctor, a clinical psychologist, a pharmacist, a radiologist, and an infection control nurse. There must also be one nurse per every 20 patients staying at the property.

This proposed solution might provide a welcomed supplement to the rudimentary field hospitals the Thai army has been hastily building to accommodate the influx of newly infected patients. While the quick work is commendable, some have hypothesized that at-risk foreigners may be ignoring calls to come forward for Covid-19 testing in part because being diagnosed may land them in these less-than-posh field hospitals for days on end. A more comfortable “hospitel” would allow infected foreigners to be treated in more pleasant surroundings thus encouraging them to come forward for testing.

SOURCE: National News Bureau and Nation Thailand

 

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