Lifeline arranged to keep THAI afloat
Feb 20, 2015, 7:59 pm
#121
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Thai Airways International pax down 2% to 1.7m in Jan-2015, cargo down 11%
19-Feb-2015 10:59 AM
Thai Airways International reports (18-Feb-2015) the following traffic highlights in Jan-2015:
Passenger numbers: 1.7 million, -1.7% year-on-year;
Passenger traffic (RPKs): +1.9%;
Passenger load factor: 74.2%, +2.7 ppts;
Domestic: 76.8%, +2.1 ppts;
Regional: 71.6%, +9.6 ppts;
Australia: 76.9%, -0.3 ppt;
Europe: 76.8%, -3.9 ppts;
North Pacific: 65.8%, -7.8 ppts;
Africa: 73.9%, +2.5 ppts;
Cargo volume: 47,545 tons, -11.4%;
Cargo load factor: 54.5%, +7.2 ppts.
http://centreforaviation.com/members...traffic-210511
19-Feb-2015 10:59 AM
Thai Airways International reports (18-Feb-2015) the following traffic highlights in Jan-2015:
Passenger numbers: 1.7 million, -1.7% year-on-year;
Passenger traffic (RPKs): +1.9%;
Passenger load factor: 74.2%, +2.7 ppts;
Domestic: 76.8%, +2.1 ppts;
Regional: 71.6%, +9.6 ppts;
Australia: 76.9%, -0.3 ppt;
Europe: 76.8%, -3.9 ppts;
North Pacific: 65.8%, -7.8 ppts;
Africa: 73.9%, +2.5 ppts;
Cargo volume: 47,545 tons, -11.4%;
Cargo load factor: 54.5%, +7.2 ppts.
http://centreforaviation.com/members...traffic-210511
Feb 22, 2015, 6:56 pm
#122
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THAI: Mission possible
New man at the helm of the troubled national carrier believes he can turn its huge losses into profits.
Charamporn Jotikasthira has just landed one of the toughest jobs in the country: president of Thai Airways International (THAI). It will be a challenging task, even for one of the top financial professionals...
The nine-month loss of 9.2 billion baht is absolutely not normal. Let's extrapolate the loss to 12 billion baht for a 12-month performance. Metaphorically, if an aeroplane flies at over 40,000 feet, we have flown at a 12,000 feet a year. We will last less than four years before crashing to the ground. Of course, the people who support you will be parachuting once the aeroplane drops to 10,000 feet.
http://www2.bangkokpost.com/business...ssion-possible
New man at the helm of the troubled national carrier believes he can turn its huge losses into profits.
Charamporn Jotikasthira has just landed one of the toughest jobs in the country: president of Thai Airways International (THAI). It will be a challenging task, even for one of the top financial professionals...
The nine-month loss of 9.2 billion baht is absolutely not normal. Let's extrapolate the loss to 12 billion baht for a 12-month performance. Metaphorically, if an aeroplane flies at over 40,000 feet, we have flown at a 12,000 feet a year. We will last less than four years before crashing to the ground. Of course, the people who support you will be parachuting once the aeroplane drops to 10,000 feet.
http://www2.bangkokpost.com/business...ssion-possible
Feb 22, 2015, 9:30 pm
#123
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THAI: Mission possible
New man at the helm of the troubled national carrier believes he can turn its huge losses into profits.
Charamporn Jotikasthira has just landed one of the toughest jobs in the country: president of Thai Airways International (THAI). It will be a challenging task, even for one of the top financial professionals...
New man at the helm of the troubled national carrier believes he can turn its huge losses into profits.
Charamporn Jotikasthira has just landed one of the toughest jobs in the country: president of Thai Airways International (THAI). It will be a challenging task, even for one of the top financial professionals...
Feb 22, 2015, 11:23 pm
#125
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At least he has a good international educational background (MIT engineering and Harvard MBA) and extensive management experience in the private sector.
His interview makes sense. I agree that execution is most important. But I believe that is task is impossible with active and inflexible labor unions and work contracts from the middle age (FAs can work in the air until 60), not forgetting political interference from all sides with periodic changes of rulers. I am afraid when he stresses the symptoms (some money-losing routes) rather than the cause (awful productivity). But that might just be blabla to show that he is doing something concrete besides the more discrete confrontation with unions.
I guess that the only possible solution would be bankruptcy and drastic restructuring from fresh. But that seems impossible in the political context of Thailand.
His interview makes sense. I agree that execution is most important. But I believe that is task is impossible with active and inflexible labor unions and work contracts from the middle age (FAs can work in the air until 60), not forgetting political interference from all sides with periodic changes of rulers. I am afraid when he stresses the symptoms (some money-losing routes) rather than the cause (awful productivity). But that might just be blabla to show that he is doing something concrete besides the more discrete confrontation with unions.
I guess that the only possible solution would be bankruptcy and drastic restructuring from fresh. But that seems impossible in the political context of Thailand.
Feb 22, 2015, 11:27 pm
#126
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Feb 23, 2015, 12:34 am
#128
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By now, he should have a plan, whether there is any chance to execute it is the tough part. At least he is not talking about selling TG food in local stores
Feb 23, 2015, 4:26 am
#130
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For some reason I always think of Cartman when I see "Puff 'n Pie".
Feb 23, 2015, 5:10 pm
#131
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Feb 23, 2015, 9:39 pm
#132
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Feb 23, 2015, 10:04 pm
#133
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Feb 23, 2015, 10:07 pm
#134
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Last edited by hco; Feb 23, 2015 at 10:12 pm
Feb 24, 2015, 12:32 am
#135
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Saudi prince?
I remembered this article for 1 1/2 years ago...but it fell through in typical Thai fashion. I've seen a 69 million baht home in my neighborhood remain unsold for five years, even though there have been offers of 65 million.
Still not enough sh*t to sell to cover 262 BILLION baht in debt!
Some THAI directors worried Saudi prince's offer for Airbus too low
VIPAPORN JITSOMBOON
THE NATION September 17, 2013 1:00 am
THAI AIRWAYS International's board of directors is split over the sale of an Airbus A340-500 to a Saudi prince, as some have expressed concern that the offer is only about a third of the aircraft's book value.
Prince Faisal Al Saud placed an order for one of four aircraft up for sale via AvCon Worldwide, offering to pay US$23.5 million (Bt744 million) for the plane. A $2.5-million deposit was placed. But the book value as of June was $67.07 million.
A source at THAI said the proposal was submitted for the board's consideration about two months ago. Some directors were concerned that the low price would result in the immediate loss of Bt4 billion from the sale of the four planes and could spark an investigation. Others said the sale would benefit THAI in the long term, as the planes are now parked idly at Don Mueang Airport.
http://www.nationmultimedia.com/busi...-30214982.html
I remembered this article for 1 1/2 years ago...but it fell through in typical Thai fashion. I've seen a 69 million baht home in my neighborhood remain unsold for five years, even though there have been offers of 65 million.
Still not enough sh*t to sell to cover 262 BILLION baht in debt!
Some THAI directors worried Saudi prince's offer for Airbus too low
VIPAPORN JITSOMBOON
THE NATION September 17, 2013 1:00 am
THAI AIRWAYS International's board of directors is split over the sale of an Airbus A340-500 to a Saudi prince, as some have expressed concern that the offer is only about a third of the aircraft's book value.
Prince Faisal Al Saud placed an order for one of four aircraft up for sale via AvCon Worldwide, offering to pay US$23.5 million (Bt744 million) for the plane. A $2.5-million deposit was placed. But the book value as of June was $67.07 million.
A source at THAI said the proposal was submitted for the board's consideration about two months ago. Some directors were concerned that the low price would result in the immediate loss of Bt4 billion from the sale of the four planes and could spark an investigation. Others said the sale would benefit THAI in the long term, as the planes are now parked idly at Don Mueang Airport.
http://www.nationmultimedia.com/busi...-30214982.html