Thai Airways International (THAI), Thailand’s national flag carrier, has reduced this year’s revenue projection from Bt6 billion to Bt2 billion, according to THAI President Sorajak Kasemsuvan.
He said the original revenue target of Bt6 billion was earlier lowered to Bt4 billion and the latest projection of Bt2 billion was reported to the company’s board of directors.
He put the blame on the global economic slowdown which has severely impacted China and India – THAI’s major markets, adding that the current political turmoil in the country has reduced the number of domestic passengers by 2-3 per cent.
He said the management will closely monitor the company’s performance and boost its marketing strategy in Q4 while expenditures must be slashed.
Management will submit a business turnaround plan for 2014 to the airline’s board of directors next month to deal with tougher competition in the airline industry and to respond to passenger demands, he said.
In the monthly meeting yesterday, THAI directors were informed that the cabin factor in October was 71.6 per cent – lower than the same period last year when the cabin factor was reported at 73.5 per cent.
Passengers increased from 1.71 million people in October last year to 1.77 million people last month, Mr Sorajak reported.
