Flag carrier at risk of collapse: THAI’s President

- A Monitor Desk Report 23 Oct, 2019 | 4602 Views|-+
Dhaka: The staff must cooperate with THAI’s rehabilitation efforts since the carrier is in crisis, facing possible closure.

Sumeth Damrongchaitham, President of Thai Airways International said this to THAI executives during a training session at the airline’s headquarters on October 22.

"Today I want all staff to unite for overcoming the obstacles. Otherwise, the national airline must close down. There is still time for a solution, but there is not much time," Sumeth said.

THAI has lost its market leadership on several routes to budget carriers. The northern routes that once used to generate a third of the flag carrier’s revenue are now dominated by lost-cost airlines, the President further mentioned.

The airline would cut costs by reducing the salaries of managerial staff and following a zero inventory policy at its catering department, he said.

"There will be no other rewards for the staff, because the top prize is the survival of the company.”

In the first half of this year, THAI posted a loss of THB6.44 billion, raising its accumulated loss to THB280 billion while having more than 20,000 people employees.

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