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Thai Airways plans to buy 23 new aircraft to reverse hemorrhaging bottomline

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Thai Airways plans to buy 23 new aircraft to reverse hemorrhaging bottomline | The Thaiger

The national carrier is hemorrhaging billions of dollars as yet another strategy is cobbled together to try and reverse the decline in sales and passenger numbers.

Thai Airways International must revamp its business strategy and quickly finalise a multibillion-baht plan to buy new jetliners in order to tackle chronic losses, says deputy premier Somkid Jatusripitak.

Thai, which reported a net loss of 3.08 billion baht in the second quarter of this year due to higher fuel costs and increased competition, has been given three months to review its 100 billion baht buying spree of 23 new jetliners.

Speaking at a seminar on collaboration between state-owned enterprises, Somkid said THAI, the Tourism Authority of Thailand (TAT), Airports of Thailand and state-owned Krung Thai Bank should work together to harness their strengths and capitalise on the country’s tourism industry, which welcomes more than 30 million foreign visitors annually.

In addition, aviation and related industries should also be further developed by capitalising on the large tourism industry and huge number of foreign tourists.

Somkid says THAI needs a new business strategy that can turn around its business amid increased competition in the airline industry and that would require buying new planes to increase customer satisfaction.

The airline also needs to tackle its high operating costs, a key factor in its chronic losses, as are high fuel costs.

Thai Airways plans to buy 23 new aircraft to reverse hemorrhaging bottomline | News by The Thaiger

Somkid said the government was preparing to enter election mode hence THAI executives needed to work out their new business strategy and final aircraft acquisition plan within the next three months.

Afterwards, THAI and other state-owned enterprises could also work together to implement the government’s policy on promoting second-tier tourist destinations in cooperation with the Commerce Ministry, which is devising plans to help local communities benefit more from the tourism sector.

THAI chairman Ekniti Nitithanprapas said the national flag carrier was devising a business plan to attract more tourists to second-tier destinations in Thailand after the success of its campaign to increase traffic to first-tier locations such as Bangkok, Phuket, Hat Yai and Chiang Mai. The TAT would be responsible for advertising and promotion campaigns to attract |international visitors to new destinations, he said.

THAI also aimed to work more closely with Airports of Thailand, which manages Suvarnabhumi and other airports, to leverage their strengths and turn Thailand into a regional aviation hub.

Thirdly, said Ekniti, THAI would focus on a new payment gateway and digital strategy as it upgraded the airline into an international premium brand.

The aircraft acquisition plan, which initially calls for the purchase of 23 new jetliners, will be reviewed to fit the airline’s new strategy and routing, he said, adding that the existing older aircraft were not competitive and resulted in high maintenance costs and unprofitability.

Sumeth Damrongchaitham, the airline’s recently-appointed president, said it would take about 24 months for new jetliners to be delivered if the airline placed its order today, so senior executives were already revamping the airline’s business strategy in preparation for the new fleet.

According to Sumeth, the airline will also focus on its digital marketing strategy to boost profitability so that accumulated losses can be wiped off within the next four years.

Besides digital technology, he said the airline would aggressively pursue profits, reformulate its business portfolio, boost customer experience and implement a more effective human capital management program.

Thai Airways plans to buy 23 new aircraft to reverse hemorrhaging bottomline | News by The Thaiger

STORY: The Nation



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Thailand

Thailand is ‘least miserable’ country in the world again

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Thailand is ‘least miserable’ country in the world again | The Thaiger

Thai PM Prayut Chan-o-cha says he’s delighted over Thailand’s rating as the “least miserable” economy in the latest Bloomberg Misery Index. The annual Misery Index is calculated as the sum of a country’s inflation and unemployment rates.  The index compares the average of economists’ forecasts for each country.

The US moved six places to 13th least miserable and the UK improved four spots to 16th least.

Thailand scored 2.1 in the 2019 Index, which was the same score it received last year, making it the “least miserable” country out of 62 economies as rated by Bloomberg. Switzerland improved to second least miserable. Venezuela was rated the “most miserable economy” with inflation projected at about six million percent this year.

But Bloomberg says that Thailand is often rated least miserable due, in large part, to its rather unorthodox way of counting employment as well as their low fertility rate and aging population.

The Bank of Thailand lists Thailand’s unemployment rate at 0.9 percent and inflation at 1.1 for last year.

Thailand is 'least miserable' country in the world again | News by The Thaiger

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Phuket

Phuket seastead being removing by Thai Navy today

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Phuket seastead being removing by Thai Navy today | The Thaiger

Navy officers are in the process of dismantling and removing the Phuket seastead today.

About 300 navy officers are currently in the process removing the structure off the south east coast of the island. The operation is expected to be done by today, according to a spokesperson. The seastead will be kept at the Phuket Deap Sea Port as evidence in the case against the builders, Ocean Builders, and Thai/American couple who had been ‘living’ there for a short time.

The Phuket Vice Governor Supot Rodrueng Na Nongkhai says documents will be summited to the Office of Attorney General within one week.

But the company behind the project, Ocean Builders, has announced it will sue Thailand in an international court if the government removes the seastead. This legal test in a court will force the Thai Government to test its hard-line position on the seastead in an international court of law.

Speaking at a press conference at the King Prajadhipok’s Institute on friday, Deputy PM Wissanu Krea-ngam said Thai officials could remove the floating structure from the seas off the Thai mainland, because its presence clearly violated Article 119 of Thailand’s Criminal Code as threatening the Kingdom’s security and sovereignty.

Phuket seastead being removing by Thai Navy today | News by The Thaiger Phuket seastead being removing by Thai Navy today | News by The Thaiger Phuket seastead being removing by Thai Navy today | News by The Thaiger  Phuket seastead being removing by Thai Navy today | News by The Thaiger Phuket seastead being removing by Thai Navy today | News by The Thaiger Phuket seastead being removing by Thai Navy today | News by The Thaiger

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Plastics

Thailand to ban three kinds of plastic by end of this year

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Thailand to ban three kinds of plastic by end of this year | The Thaiger

By the end of 2019 Thailand will be free from three types of plastic – microbeads, cap seals and oxo-degradable plastics.

Then by 2022 four other types of single-use plastics will also be banned – lightweight plastic bags less than 36 microns thick; styrofoam food containers for takeaways; plastic cups and plastic straws – according to a road map approved by the Cabinet.

The Plastic Waste Management Road Map 2018-2030 also includes an ambitious plan for Thailand to use 100 per cent recycled plastic by 2027 in various forms, including turning waste into energy.

The Cabinet has acknowledged the road map and assigned the Natural Resource and Environment Ministry to formulate a draft action plan for plastic waste management, so it is in line with the 20-year national strategy.

Thailand to ban three kinds of plastic by end of this year | News by The Thaiger

The Cabinet also called for clear details on related agencies’ role in the integration of the work for managing plastic waste, which will also get huge participation from the private and business sectors. The related state agencies should create various mechanisms to propel this forward such as creating a good understanding among agencies, continuously implementing a public relations campaign via social media to achieve the set goals, the Cabinet instructed.

The work procedure must consider lifecycle plastic-waste management so steps are taken from the very start: with plastic products designed applying the “Eco Design” approach, manufacturing and post-consumption disposal which will include garbage separation, transport and storing, recycling and proper disposal.

According to the Department of Environmental Quality Promotion, Thais generate as much as 1.14 kilogram of garbage per head per day, contributing to the 27.04 million tonnes of waste per year.

One person uses approximately eight plastic bags a day – or 500 million plastic bags per day for the whole nation.

Most of the plastic waste ends up in the oceans, accounting for 16% of garbage in the seas.

SOURCE: The Nation

Thailand to ban three kinds of plastic by end of this year | News by The Thaiger

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