Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
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Mass lay-offs at Thai AirAsia as aviation sector continues to struggle
Thailand may have re-opened to international travellers, but the aviation sector continues to struggle as a result of the pandemic. Today, the Bangkok Post reports that Thai AirAsia has announced mass redundancies and extended furlough arrangements for many of its staff. Asia Aviation, the largest shareholder in TAA, says the outlook for the aviation sector remains unstable and the company…
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Royal Thai Air Force signs US$143 million contract for US-made aircraft
The Royal Thai Air Force signed a contract on Sunday to buy a new fleet of aircraft. These will come from Textron Aviation Defense, an American aircraft manufacturer that builds planes for the US military. The US$143 million, or about 4.86 billion baht, deal was made on the first day of the Dubai Airshow. The RTAF is set to purchase…
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Businesses call on government to accelerate return of migrant workers
Businesses in Thailand are urging the government to speed up the process that will allow for the legal return of migrant workers from neighbouring countries. The Labour Ministry recently confirmed its intention to sign MoUs with Myanmar, Cambodia, and Laos that would permit workers from those countries to enter Thailand from December. However, according to a Bangkok Post report, Thailand’s…
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Air Asia boss: Recovery in 3 months if countries ditch quarantine, testing
The chief executive of the Air Asia Group says the aviation sector could return to normal in about 3 months, if governments ditch quarantine and PCR testing. Tony Fernandes says if countries can re-open without such requirements, demand will rise significantly. According to a Bangkok Post report, Air Asia has sold over 300,000 tickets to Langkawi since the island re-opened.…
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Tax to promote electric vehicles forecasted
Thailand is hopping on the electric vehicle bandwagon. An anonymous source within the Finance Ministry told the Bangkok Post that the Thai government is mulling over providing tax benefits aimed to encourage electric vehicles. This move is coming in the wake of recent promises by PM Prayut Chan-o-cha to increase Thailand’s focus on tackling climate change. The source told the…
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More cuts at Thai Airways as flagship carrier continues rehab process
The chairman of the Thai Airways rehabilitation plan says the airline is making good progress with cost-cutting exercises. Piyasvasti Amranand says Thailand’s national carrier has managed to recover 44.8 billion baht by cutting its workforce and ending aircraft lease agreements. “Thai Airways’ operational performance has progressed satisfactorily in many aspects, including cost reduction and organisational restructuring.” According to a TTR…
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Central plans 500 million baht reboot for New Years festival season
After months of restrictions for shopping centres, with promotional events banned in areas with high Covid-19 infection rates, 35 Central shopping centres across Thailand are preparing for the holiday shopping season with a multimillion baht market campaign to boost sales. Central Pattana Plc is set to spend as much as 500 million baht this New Years festival season in an…
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Thailand aviation sector optimistic following November 1 re-opening
Following Thailand’s re-opening yesterday to vaccinated tourists from 63 approved countries, the aviation sector is feeling positive. According to a TTR Weekly report, Thai carriers are hopeful that the re-opening will mean they can restore their schedules to pre-pandemic levels by the end of this year. The current situation is that Thai Air Asia is operating just 10 of its…
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Foreign airlines give up 80% of their slots at Thailand’s airports amid uncertainty of next 5 months
The managing director of Airports of Thailand says international carriers have returned around 80% of their slots at Thailand’s airports. Nitinai Sirisamatthakarn says around 80% of slots between October 31 and March 26 next year have been returned, indicating that airlines are uncertain about any imminent recovery in the aviation sector. Airport slots are the landing and take-off permissions that…
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Thailand’s chicken industry suffering from lack of migrant workers
Thailand, one of the world’s major producers of chicken products, is struggling to keep up with exports. Japanese food companies, one of the major importers of Thai chicken, are feeling the pinch. Like many industries, it’s a labour shortage causing many of the issues. Around the world, supply chains have been severely disrupted by the Covid pandemic and labourers have…
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Government considers tax cut for highly-skilled foreign workers
The Thai government is considering cutting the rate of personal income tax for highly-skilled foreign workers, in order to attract more talent to the kingdom. Ekniti Nitithanprapas from the Revenue Department says officials are mulling the possibility of reducing the rate to 17%. The Bangkok Post reports that the rate of personal income tax in Thailand is based on salary…
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Facebook, WhatsApp, Instagram are down as the Facebook data centre crashes
Facebook, WhatsApp and Instagram are all down on this Monday evening. Users of Facebook’s suite of social media platforms are all non-responsive as millions of users try to access their accounts. Users on mobile, desktop and tablets are all affected. Issues started around 22:44 Thai Time and are currently impacting users worldwide with the hashtag #facebookdown trending on Twitter. We’re…
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Thai Airways to resume flights to countries with high vaccination rates
Thai Airways says it will start selling seats on flights to highly-vaccinated destinations from October 1. The struggling national carrier expects to resume flights to the UK, France, and Germany, as well as Japan and Australia. The Bangkok Post reports that airline bosses made the decision after several destinations reported vaccination rates of around 70%. Airline spokesman, Chai Eamsiri, says…
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Consumer complaints hotline targets rip-off shopkeepers
A nationwide hotline number is now in operation to allow consumers to file complaints against shop owners who overcharge for basic necessities. Nation Thailand reports that the Commerce Ministry has launched the 1569 hotline following complaints of excessive charges for essential goods. Shopkeepers are being warned they face penalties of over 7 years’ imprisonment and/or a fine of 140,000 baht…
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Strapped for cash, Thai Airways puts 3 more aircraft up for sale
The beleaguered national carrier, Thai Airways International, is to sell 3 more aircraft in a bid to raise some much-needed funds. Also up for grabs is a flight simulator, as the airline continues with its rehabilitation plan and attempts to modernise its fleet. The Bangkok Post reports that the airline is selling 3 of its Airbus A330-300s, all of which…
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Thai government officials offered special promotional fares on Air Asia
Thai Air Asia has launched a promotional deal targeting government officials, members of the Federation of Thai Industries and the Thai Chamber of Commerce, as well as employees of state enterprises. The perks will also apply to their travel companions. The thinking behind the deal is that government officials were some of the first to be vaccinated and are not…
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Desperate hotel operators look to Bangkok re-opening for signs of hope
Even with plans still up in the air and nothing confirmed, Thai hotel operators are pinning their hopes on Bangkok’s proposed re-opening next month. The president of the Thai Hotels Association says that while hotels don’t expect a huge uptake in bookings immediately, they are hopeful that average occupancy might reach 15 – 20% in the last 3 months of…
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Germany’s finest engineering applied to residential properties in Pattaya
PATTAYA: A few months ago, the German architect Mario Kleff demolished two new villas on Pratumnak Hill, which he is now replacing with a new one. The villa is being built using German engineering quality, with reinforced concrete and long steel girders. Intensive construction work has been underway at the Majestic Residence, Soi 366 Kasetsin, on Pratumnak Hill since…
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Thailand’s spa operators optimistic business will pick up in last quarter
The president of the Thai Spa Association says he’s hopeful things will improve in the last quarter of the year, if the country re-opens and domestic tourism picks up. Krod Rojanastien says the industry has suffered badly under Covid-19 restrictions, with most of the 8,000 registered facilities closed and 70% – 80% of staff out of work. And, while restrictions…
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Suvarnabhumi’s ranking plummets in World’s Best Airports index
The results of this year’s World’s Best Airports awards are in, and in the last 10 years, Bangkok’s Suvarnabhumi has taken a nosedive from number 13 to 66. The awards, voted for by passengers, are run annually by UK consultancy, Skytrax. This year’s results were decided by an online survey that ran for a 12-month period between August 2020 and…
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Phuket hoteliers looking to winter wonderland to bolster the Sandbox
by Bill Barnett from c9hotelworks.com As the Phuket Sandbox program continues to be the international gateway for overseas travellers to Thailand, island hoteliers are looking at what the winter season could look like. Traditionally a legacy market, many visitors during this period are called ‘snowbirds’ and are from Northern and Eastern Europe. Snowbird travellers are long-stay visitors, with a key…
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Vietjet to launch 4 direct cross-country routes from September
From next month, Vietjet will resume a number of domestic routes between Thai provinces without the need to connect in Bangkok. The carrier is promoting 4 routes for around 389 baht when taxes and other fees are factored in. According to TTR Weekly, the airline has dropped its 1pm – 3pm booking window so passengers now have more time to…
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CP boss outlines 4 ways government could speed up pandemic recovery
One of Thailand’s wealthiest businessmen has outlined 4 ways in which the government could accelerate the country’s Covid-19 recovery. The Bangkok Post reports that Dhanin Chearavanont, senior chairman of the Charoen Pokphand Group, was responding to questions from journalist Suthichai Yoon during a Facebook Live interview yesterday. According to Dhanin, the government must increase relief measures for those affected by…
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Thai Airways selling 10 properties to raise capital
With deepening debt and the Covid-19 pandemic dragging on and flattening the tourism and travel industry, Thai Airways International is looking to sell off some large assets like buildings and properties to stabilise the struggling airline. The airline has been in the throes of bankruptcy and debt rehabilitation for months now after failing to secure a bailout from the government.…
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What is so important about the Sandbox?
OPINION by Bill Barnett from c9hotelworks.com Being on the ground in Phuket over the past sixteen months of the pandemic I have experienced the up’s and downs of pandemic tourism firsthand. Over the past month with the Sandbox program coming into place, we have seen over 13,000 travellers arrive at the Phuket International Airport. “What is so important about the…
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Thai AirAsia suspends flights, cuts salaries as financial woes continue
As Thailand’s airlines continue to struggle with the financial fallout from Covid-19, Thai AirAsia has suspended all flights for this month. The carrier is also cutting staff salaries or deferring partial or whole payment until September. According to a Bangkok Post report, the airline’s financial woes are worsening as low passenger numbers show no sign of improving and cash flow…
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Inside story behind the Thailand property seachange
by Bill Barnett of c9hotelworks.com For Thailand’s real estate market, Covid-19 has brought massive changes in lifestyle and ongoing pandemic fatigue is pushing many domestic buyers to shift property investment preferences in favour of resort or countryside destinations. Whether you call it Plan B, a sea change or an escape plan, one thing for certain is that change is in the…
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Thailand’s airlines feeling the pinch with no government support
Asia Aviation, the largest shareholder in Thai AirAsia, says the latest partial lockdown threatens TAA’s financial status, with no government aid forthcoming. AA executive chairman Tassapon Bijleveld says the industry has been limping along without any help for over a year now and wants to know how the government expects to collect tax once large businesses collapse. In a Bangkok…
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