Thai restructuring plans approved

admin
By admin July 28, 2014 11:47

Thai restructuring plans approved

Thai Airways management has approved a restructuring plan aimed at cutting over THB4bn ($125 million) in costs over the next six months.

The airline’s newly-installed chairman, Air Chief Marshal Prajin Juntong, stated that the restructuring plan will be aimed at returning the airline to profitability by mid-2015.

In addition, the airline intends to revise its fare structure in order to increase revenue by between $94-157million.

The airline also plans to rationalise its European route network while expanding services to Japan and China.

In a bid to reduce fuel costs, Thai will maintain the delivery of brand new A330-300s, A350-900s and B787-8s while phasing out its older A330-300s, A340-600s, B777-200(ER)s and B737-400s.

Acting President, Air Chief Marshal Siwakiat Jayema, said: “It should take one to two years, or probably to the first quarter of next year, to see the result of the restructuring. Performance should improve and we aim to be number one in 2017.”

admin
By admin July 28, 2014 11:47