Connect with us

Business

Thai banks on 156 billion baht spending spree for recovery

Published

 on 

“He hoped the airline could be profitable again in mid-2020.”

Thai Airways International is seeking cabinet approval to buy or lease 38 new planes at an estimated cost of 156 billion baht. In the proposal 31 planes will be acquired over the next five years.

Thai Airways president Sumeth Damrongchaitham says the proposal would reach Deputy PM Somkid Jatusripitak this week and be put to the cabinet later this month.

Khun Sumeth says the procurement would be by purchase or leasing and the new planes a mix of wide and narrow body jets. The first phase was for 31 planes to replace old ones within five years, and the second would be for seven new aircraft to bolster the fleet.

Management are also asking the airline board to approve a new Bangkok-Sendai route, intended to be launched this November in time for the high season. Also under investigation is the Bangkok-Manchester route, but the airline was yet to conduct a thorough study, according to the airline president.

He said he hoped the airline could be trading in profit again by mid 2020. Thai Airways has been struggling for over a decade as local competition from new budget airlines cuts into its passenger loads and earning capacity.

 

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.

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Follow Thaiger by email:

Tourism14 mins ago

5-star squatters evicted from Layan Beach

Video34 mins ago

All you need to know about Thailand’s Vegetarian Festival

Protests1 hour ago

Anti-Prayut rallies expected across Bangkok

Sponsored1 day ago

10 Best Seed Banks that Ship Cannabis Seeds Discreetly to You (Free US Shipping)

What you get for $X16 hours ago

What $100,000 buys you for a condo in Bangkok, Phuket, Pattaya, Koh Samui and Hua Hin

Thailand18 hours ago

Thailand News Today | Activists plan protests all across Thailand

Thailand18 hours ago

Snitching on parking space hoggers could earn you 5,000 baht in Thailand

Join the conversation on the Thaiger Talk forums today!
Weather18 hours ago

Storm Noru weakens from typhoon to depression as it moves across Thailand

World19 hours ago

Suicide bombing in Afghanistan hits students preparing for exam

Politics20 hours ago

BREAKING: Prayut reinstated as Prime Minister of Thailand

Technology20 hours ago

What role for Thailand in China’s great European EV invasion?

Cambodia20 hours ago

Cambodian delegation in UK to seach for stolen treasures

Thailand20 hours ago

20 baht notes printed with errors, says Bank of Thailand

Crime21 hours ago

Loan shark bombs debtor’s house in southern Thailand

Thailand21 hours ago

Thai researchers develop flood-resistant rice strain

Press Room22 hours ago

Southeast Asia’s hospitality leaders step into the ring to fight for sustainability at PHIST 5

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