BANGKOK, 13 August 2015 – Thai Airways International (THAI) has posted major losses in the second quarter due to weak operating revenues.
The national carrier posted a net loss of 12.8 billion baht, compared with a loss of 7.66 billion baht a year earlier. Last year’s loss was estimated at 10.2 billion baht.
The net profit for the airline is down to 1.5 billion baht or 3.6%. Factors such as a drop in the number of air mail deliveries and foreign exchange losses contributed to the wider losses in the second quarter.
The company earlier announced measures to sell 30 local and overseas office buildings and staff residences to cut costs. The airline, which faces financial trouble, has also failed to reduce the airline’s running costs as part of its rehabilitation plan
