Lifeline arranged to keep THAI afloat
Feb 26, 2015, 10:11 pm
#136
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Posts: 12,375
Wow, these numbers are a bit worse than expected...
Thai Airways suffers huge loss
Thai Airways International (THAI) posted a net loss of 15.57 billion baht in 2014, up by 29.8%, or 3.57 billion baht, from the 2013 loss, due mainly to the local political situation and fierce competition,...
http://www2.bangkokpost.com/news/tra...fers-huge-loss
UPDATE 1-Thai Airways Q4 loss wider than expected, shares slide
Q4 net loss 6.4 bln baht vs estimated 2.6 bln
Q4 passengers down 9.8 pct on year to 4.78 mln
Forex gain in qtr offset by fuel hedge losses-official
Shares drop to 9-month low after earnings (Adds analyst comments and details of results)
By Khettiya Jittapong
BANGKOK, Feb 26 (Reuters) - Thai Airways International PCL posted a wider-than-expected fourth-quarter loss as a drop in passenger numbers after months of domestic political unrest hurt the national carrier, pushing its shares down to a nine-month low.
The performance raised concerns on whether the carrier can turn around quickly while it battles fierce competition and soaring debt, brought about by high operating costs and aircraft purchases in recent years.
The airline is one of Thailand's major state companies undergoing reform since the military seized power in May. It is expected to post further losses this year due to higher costs from restructuring, which involves cutting operating costs and capacity by 20 percent, selling aircraft and job cuts.
http://in.reuters.com/article/2015/0...0W02JN20150226
Thai Airways suffers huge loss
Thai Airways International (THAI) posted a net loss of 15.57 billion baht in 2014, up by 29.8%, or 3.57 billion baht, from the 2013 loss, due mainly to the local political situation and fierce competition,...
http://www2.bangkokpost.com/news/tra...fers-huge-loss
UPDATE 1-Thai Airways Q4 loss wider than expected, shares slide
Q4 net loss 6.4 bln baht vs estimated 2.6 bln
Q4 passengers down 9.8 pct on year to 4.78 mln
Forex gain in qtr offset by fuel hedge losses-official
Shares drop to 9-month low after earnings (Adds analyst comments and details of results)
By Khettiya Jittapong
BANGKOK, Feb 26 (Reuters) - Thai Airways International PCL posted a wider-than-expected fourth-quarter loss as a drop in passenger numbers after months of domestic political unrest hurt the national carrier, pushing its shares down to a nine-month low.
The performance raised concerns on whether the carrier can turn around quickly while it battles fierce competition and soaring debt, brought about by high operating costs and aircraft purchases in recent years.
The airline is one of Thailand's major state companies undergoing reform since the military seized power in May. It is expected to post further losses this year due to higher costs from restructuring, which involves cutting operating costs and capacity by 20 percent, selling aircraft and job cuts.
http://in.reuters.com/article/2015/0...0W02JN20150226
Feb 27, 2015, 6:56 pm
#137
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Feb 28, 2015, 9:52 pm
#138
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There is a huge drop in passengers revenue, a significant drop in freight revenues. Employee expenses are stable as there was a one-off provision for special benefits last year. The only bright spots are the reduction in oil prices and currency gains, but these are external events. If TG cuts operations in 2015, it will really need to layoff a huge number of employees to retain to profitability. The 50% cut that someone mentioned above, might be on the high side but the 7,000 voluntary departures mentioned by management are clearly and totally insufficient.
Mar 1, 2015, 10:05 pm
#139
Join Date: Jul 2011
Location: Melbourne
Programs: Velocity Gold
Posts: 1,069
That does not make for good reading, everything is down big time. No airline can make money with load factors at around 60%, that's a lot of empty seats flying around. And to top that off their yield is going backwards too. Interest expenses going up. More crazy aircraft planning acquiring a useless amount of 4 A350's in the next FY.
Also I know it is probably a translated report from Thai but it they want to provide a professional front they should be hiring a better translator.
I hope they can be turned around, the new guy has said a lot but it will be in the action that counts. I just don't get their sales strategy and I help a heap of people book tickets.
Also I know it is probably a translated report from Thai but it they want to provide a professional front they should be hiring a better translator.
I hope they can be turned around, the new guy has said a lot but it will be in the action that counts. I just don't get their sales strategy and I help a heap of people book tickets.
Mar 2, 2015, 6:59 pm
#141
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http://edition.cnn.com/2013/09/09/tr...logos-blurred/
Even with the new CEO's 'connections' (SCB), no local bank wants to give them any more money, so they need the citizens to prop them up until good luck returns.
I'm not sure there are even bankruptcy (protection) laws here; most Thais just do a runner if they owe money, then change their names.
Mar 6, 2015, 7:49 pm
#142
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Could, should but...
Thai Airways says could sell assets to cover 2015 losses
(Reuters) - Thai Airways International PCL (THAI.BK) will sell some of its 15.5 billion baht (318.95 million pounds) of non-core assets to cover any losses this year from one-off hits for cutting its fleet and workforce, the company's president said on Friday.
A sharp drop in fuel costs should save Thailand's national carrier around 16 billion baht in 2015 and return it to operating profit for the first time since 2012, Charumporn Jotikasthira told Reuters in an interview.
But a return to operating profit might not be enough to cover the costs of restructuring, said Charumporn, a former head of the Stock Exchange of Thailand appointed in December by the military junta which seized power last May.
"We have our holdings in other companies, we have land, hotels ... we can sell if we need to," he said.
http://uk.reuters.com/article/2015/0...0M21I620150306
Thai Airways says could sell assets to cover 2015 losses
(Reuters) - Thai Airways International PCL (THAI.BK) will sell some of its 15.5 billion baht (318.95 million pounds) of non-core assets to cover any losses this year from one-off hits for cutting its fleet and workforce, the company's president said on Friday.
A sharp drop in fuel costs should save Thailand's national carrier around 16 billion baht in 2015 and return it to operating profit for the first time since 2012, Charumporn Jotikasthira told Reuters in an interview.
But a return to operating profit might not be enough to cover the costs of restructuring, said Charumporn, a former head of the Stock Exchange of Thailand appointed in December by the military junta which seized power last May.
"We have our holdings in other companies, we have land, hotels ... we can sell if we need to," he said.
http://uk.reuters.com/article/2015/0...0M21I620150306
Mar 10, 2015, 6:09 pm
#143
Join Date: May 2012
Location: Melbourne, Australia
Programs: VA WP, NZ *A SG
Posts: 529
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
Mar 10, 2015, 8:37 pm
#144
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More airlines settle collusion lawsuit
The Nation March 11, 2015 1:00 am
Thai Airways International is likely to pay out compensation this year as part of the settlements on a class-action lawsuit involving collusion on airline ticket sales, as the case is coming to an end.
US law firms Cotchett, Pitre & McCarthy and Hausfeld announced on Monday that three more airlines had decided to settle the class-action suit, boosting the settlement fund to US$39.5 million (Bt1.29 billion).
In late 2013, THAI was one of five airlines - Japan Airlines International, Air France, Vietnam Airlines and Malaysian Airline System - that agreed to a settlement of $22.2 million.
http://www.nationmultimedia.com/busi...-30255733.html
The Nation March 11, 2015 1:00 am
Thai Airways International is likely to pay out compensation this year as part of the settlements on a class-action lawsuit involving collusion on airline ticket sales, as the case is coming to an end.
US law firms Cotchett, Pitre & McCarthy and Hausfeld announced on Monday that three more airlines had decided to settle the class-action suit, boosting the settlement fund to US$39.5 million (Bt1.29 billion).
In late 2013, THAI was one of five airlines - Japan Airlines International, Air France, Vietnam Airlines and Malaysian Airline System - that agreed to a settlement of $22.2 million.
http://www.nationmultimedia.com/busi...-30255733.html
Mar 11, 2015, 2:27 pm
#145
Join Date: Jul 2011
Location: Melbourne
Programs: Velocity Gold
Posts: 1,069
Could, should but...
Thai Airways says could sell assets to cover 2015 losses
(Reuters) - Thai Airways International PCL (THAI.BK) will sell some of its 15.5 billion baht (318.95 million pounds) of non-core assets to cover any losses this year from one-off hits for cutting its fleet and workforce, the company's president said on Friday.
A sharp drop in fuel costs should save Thailand's national carrier around 16 billion baht in 2015 and return it to operating profit for the first time since 2012, Charumporn Jotikasthira told Reuters in an interview.
But a return to operating profit might not be enough to cover the costs of restructuring, said Charumporn, a former head of the Stock Exchange of Thailand appointed in December by the military junta which seized power last May.
"We have our holdings in other companies, we have land, hotels ... we can sell if we need to," he said.
http://uk.reuters.com/article/2015/0...0M21I620150306
Thai Airways says could sell assets to cover 2015 losses
(Reuters) - Thai Airways International PCL (THAI.BK) will sell some of its 15.5 billion baht (318.95 million pounds) of non-core assets to cover any losses this year from one-off hits for cutting its fleet and workforce, the company's president said on Friday.
A sharp drop in fuel costs should save Thailand's national carrier around 16 billion baht in 2015 and return it to operating profit for the first time since 2012, Charumporn Jotikasthira told Reuters in an interview.
But a return to operating profit might not be enough to cover the costs of restructuring, said Charumporn, a former head of the Stock Exchange of Thailand appointed in December by the military junta which seized power last May.
"We have our holdings in other companies, we have land, hotels ... we can sell if we need to," he said.
http://uk.reuters.com/article/2015/0...0M21I620150306
Mar 17, 2015, 9:39 pm
#146
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Join Date: Sep 1999
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THAI plans to tempt fliers with revamp
Thai Airways International Plc (THAI) will revamp its sales units and boost passenger numbers in a bid to generate more revenue, the airline's president Charamporn Jotikasthira said. The plan was announced...
The company plans to borrow 15 billion baht this year to boost its liquidity and repay debts, and up to 20 billion baht in 2016.
http://www.bangkokpost.com/news/gene...rs-with-revamp
Thai Airways International Plc (THAI) will revamp its sales units and boost passenger numbers in a bid to generate more revenue, the airline's president Charamporn Jotikasthira said. The plan was announced...
The company plans to borrow 15 billion baht this year to boost its liquidity and repay debts, and up to 20 billion baht in 2016.
http://www.bangkokpost.com/news/gene...rs-with-revamp
Mar 18, 2015, 2:19 am
#147
Join Date: Jul 2011
Location: Melbourne
Programs: Velocity Gold
Posts: 1,069
THAI plans to tempt fliers with revamp
Thai Airways International Plc (THAI) will revamp its sales units and boost passenger numbers in a bid to generate more revenue, the airline's president Charamporn Jotikasthira said. The plan was announced...
The company plans to borrow 15 billion baht this year to boost its liquidity and repay debts, and up to 20 billion baht in 2016.
http://www.bangkokpost.com/news/gene...rs-with-revamp
Thai Airways International Plc (THAI) will revamp its sales units and boost passenger numbers in a bid to generate more revenue, the airline's president Charamporn Jotikasthira said. The plan was announced...
The company plans to borrow 15 billion baht this year to boost its liquidity and repay debts, and up to 20 billion baht in 2016.
http://www.bangkokpost.com/news/gene...rs-with-revamp
Mar 19, 2015, 9:45 pm
#148
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Finally, changes coming, in the pineapple 
Hmmm, I wonder who controls most of the pineapple industry here?
THAI jettisons punchless pineapples
Prayut's sour grapes lead to menu change
17 Mar 2015
Less than three weeks after Prime Minister Prayut Chan-o-cha's complained about its food and fruit, Thai Airways International moved to punch up its menu. The flag carrier on Tuesday signed an agreement...
"There will be no more tasteless pineapples,'' he said. "From now on passengers will get fresh, yellow ones."
http://www.bangkokpost.com/news/tran...ess-pineapples
Hmmm, I wonder who controls most of the pineapple industry here?
THAI jettisons punchless pineapples
Prayut's sour grapes lead to menu change
17 Mar 2015
Less than three weeks after Prime Minister Prayut Chan-o-cha's complained about its food and fruit, Thai Airways International moved to punch up its menu. The flag carrier on Tuesday signed an agreement...
"There will be no more tasteless pineapples,'' he said. "From now on passengers will get fresh, yellow ones."
http://www.bangkokpost.com/news/tran...ess-pineapples
Mar 19, 2015, 11:17 pm
#149
Join Date: Jul 2013
Location: BKK
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Finally, changes coming, in the pineapple
Hmmm, I wonder who controls most of the pineapple industry here?
http://www.bangkokpost.com/news/tran...ess-pineapples
Hmmm, I wonder who controls most of the pineapple industry here?
http://www.bangkokpost.com/news/tran...ess-pineapples
Mar 21, 2015, 3:23 pm
#150
Join Date: Jun 2008
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Posts: 7,884
- especially in the evening when the SQ Lounge is already closed