Thai Airways revises its financial goals

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Cost-cutting initiatives, stock sales, debt collection attempts, and seat distribution are projected to boost Thai Airways’ third-quarter turnover rate. Thai Airways needs more workers, especially ground crew, to handle more passengers. Thai Airways will restart direct service between Bangkok and Milan, Italy, and Bangkok and Oslo, Norway, by year’s end or early next year. Thai Airways will boost its four weekly Bangkok-Jeddah flights to seven. As Thailand’s busiest tourism season approaches (October to December), the firm expects more European and Indian visitors.

Piyasavat Amranand, chairman of Thai Airways’ reform committee, predicts two years of profitability. 600 outsiders will be hired to work in the kitchen, cargo division, and ground service business. The corporation will add 15,000 employees next year. Thai Airways has 68 planes and will rent three more for China’s return. Beginning next month, Thailand-China flights will be limited to 15 per week. Piyasavat says Thai Smile Airways, a Thai Airways subsidiary, has more passengers. Traveler numbers are 80% of pre-Covid-19 levels. According to Piyasavat, Thai Airways will be profitable by 2024 and complete its reform plan by 2025. Thai Airways will rent three more planes and hire 600 more people this year as part of its reorganization.