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Thai Airways submits rehabilitation plan

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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. 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. 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. 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. 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.

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