Thai Airways foresees tumbling revenue and profit
- Posted on 20 February 2009
Thai Airways International foresees revenue falling 18 per cent this year, from Bt220 billion (US$6.2 billion) to Bt180 billion, due to the economic turmoil.
Board chairman Surachai Tansitpong said the airline planned to reduce annual operating costs 5-10 per cent, with an immediate 3 per cent cut which will save about Bt6 billion alone.
The company waived annual commission payments and froze salary adjustments in last year¡¯s budget.
THAI is expected to post a net loss of more than Bt10 billion for 2008, due to the global economic crisis in general and the shutdown of Bangkok¡¯s airports in particular.
