THAI to start flying to high-jab rate countries

THAI to start flying to high-jab rate countries

A Thai Airways International plan is seen at Suvarnabhumi Airport. (Bangkok Post file photo)

Thai Airways International (THAI) has announced it will start selling tickets on select international flights to destinations with high vaccination rates, from Oct 1.

The airline will re-commence flights to lucrative markets in Europe such as Britain, France and Germany as well as some cities in Japan and Australia.

The decision to resume flights came after these countries reported high rates of vaccination at around 70% of their populations.

China, another highly profitable destination, is expected to be back on THAI’s scheduled passenger flight network next year, according to Chai Eamsiri, acting executive vice president of THAI’s Finance and Accounting Department.

Mr Chai said revenue from cargo flights has exceeded that of passenger flights, which ground to a halt due to the protracted Covid-19 pandemic that struck the country early last year.

The carrier’s balance sheet has improved after the company sold off some assets and offloaded parts of its investments in the Bangkok Aviation Fuel Services Plc (BAFS) and Nok Air.

The company has set a target of cutting back up to 53 billion baht in investment costs by the end of next year. So far, it has saved 44 billion baht towards the goal.

The cutbacks have resulted from continued implementation of more than 600 retrenchment and austerity programmes of all sizes. Among them is the downsizing of the workforce achieved by shedding 48% of employees to 15,300 from 29,500 two years ago.

Mr Chai said the retrenchments have more than halved the company’s expenses.

The vice president added THAI has sold or is selling 42 of the 100 planes in its fleet. He expected the planes to all be sold off by the end of the year.

From 12 types of aircraft prior to the pandemic, THAI will, after the sales, end up with five types, which will be more economical to operate. Engine varieties will also be narrowed, from nine to four.

The leased aircraft will be returned to lessors.

Those on lease which continue to be deployed until next year will see revised leasing terms.

The company will pay the lease according to the hours flown, given the plunge in passenger traffic.

The trimming has brought down both fixed and variable costs substantially, Mr Chai said.

As for the six superjumbo Airbus A380 aircraft in the airline’s fleet, he said two, which the company owns, have been put up for sale.

The remaining four that are leased are in the process of being returned.

Internet Explorer Channel Network
News Related

OTHER NEWS

Hindalco Q2 PAT seen up 317% YoY to Rs 1,365 cr: ICICI Direct

ICICI Direct has come out with its second quarter (July-September’ 21) earnings estimates for the Metal & Mining sector. The brokerage house expects Hindalco to report net profit at Rs ... Read more »

Shipping crisis 'worst in China and Los Angeles'

Read more »

Turnover Sons electronics company Neways continues to be held back by scarcity of chips and other components

SON – Neways continues to suffer from shortages of chips and other components. The turnover of the Sonse electronics group decreased in the past quarter. Neways is also taking into ... Read more »

Ford boss: Chip shortage a 'huge issue'

Read more »

To benefit from strong secondary market momentum, these IPOs could hit Dalal Street by November

The strong momentum in the secondary market, with the benchmark indices trading at record highs, is proving to be a game-changer for the primary market as the rush of initial ... Read more »

HOLD Economy faces uncertainty, monetary policy to stay accommodative

Domestic tourists enjoy the view from the Jungle Club in tambon Bophut of Koh Samui, Surat Thani province, on Monday. Revival of the tourism sector will be key to the ... Read more »

Economy faces uncertainty, monetary policy to stay accommodative

Domestic tourists enjoy the view from the Jungle Club in tambon Bophut of Koh Samui, Surat Thani province, on Monday. Revival of the tourism sector will be key to the ... Read more »

Le Creuset and Chef Ian of Cuisine Concept Invite VIP guests to participate in a Private Cooking Class.

(October 17th, 2021) – Le Creuset is a high-end French cookware brand. The exclusive cooking class was organized in collaboration with Chef Ian Pongtawat Chalermkittichai of Cuisine Concept, a well-known ... Read more »

Big bang unico berluti aluminio

Hublot and Berluti, 5 years of collaboration and a new limited edition run of 100 pieces: the two houses explore shades of grey in a unique creative exercise. This new ... Read more »

“Beyond honoured”: Siam Premium Outlets Bangkok secures Global RLI Awards 2021 win

Siam Premium Outlets Bangkok has been rewarded for its superior shopping experience by winning a world-class award from The Global RLI Awards 2021 in the Outlet Center – New Build ... Read more »

Netflix reportedly terminated the employee who leaked details on Dave Chappelle's ‘The Closer' special

Photo by: Napoleon Schwan/Pixabay Netflix was said to have fired one of its staff who leaked confidential information about Dave Chappelle's “The Closer” special. The American streaming giant said that ... Read more »

DMart's Q2 is good, but it is not enough for investors given stock's pricey valuations

Avenue Supermarts Ltd’s shares jumped almost 11% on the National Stock Exchange in morning trade on Monday, touching a new 52-week high. Avenue runs the DMart chain of stores. However, ... Read more »

Ibis to invest over Rs 500 crore to add 685 keys across 4 hotels by FY24

Quarantined Associated Press photographers in Shanghai; Hong Kong; Sydney; Kuala Lumpur, Malaysia; Taguig, Philippines; and Taipei, Taiwan; shared their experiences as they wait to go home. Their required hotel quarantines ... Read more »

Bitcoin gets record in sight

The value of the world’s most famous digital currency may rise due to the expectation that the American authorities will authorize the launch of a so-called exchange-traded fund (ETF) based ... Read more »

“NIA & FutureTales Lab by MQDC” Invite You to Hear the Future with “Futures Meme”

The National Innovation Agency (NIA) and FutureTales Lab by Magnolia Quality Development Corporation Limited (MQDC) have the launch of “Futures Meme” a new podcast on social, economic and lifestyle changes, ... Read more »

NTO 2.0: Zee, Sony announce new channel pricing but will it help broadcasters?

Several broadcasters have begun releasing new prices for channels as well as bouquets in line with the Bombay High Court order that in June upheld the New Tariff Order (NTO), 2020. Zee ... Read more »

Berger Paints Q2 PAT may dip 0.2% YoY to Rs 220.4 cr: KRChoksey

Berger Paints | The company reported higher consolidated profit at Rs 274.8 crore in Q3FY21 against Rs 182.3 crore in Q3FY20, revenue jumped to Rs 2,118.2 crore from Rs 1,696 ... Read more »

Avenue SuperMart Q2 PAT seen up 96.2% YoY to Rs 389.5 cr: KRChoksey

KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the Consumer Goods sector. The brokerage house expects Avenue SuperMart to report net profit at Rs 389.5 ... Read more »

Tata Consumer Products Q2 PAT seen up 9.1% YoY to Rs 280.5 cr: KRChoksey

Tata Consumer Products KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the Consumer Goods sector. The brokerage house expects Tata Consumer Products to report net ... Read more »

Whirlpool Q2 PAT seen up 16.4% YoY to Rs 155.7 cr: KRChoksey

whirlpool_356_1657_356_21538899 KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the Consumer Goods sector. The brokerage house expects Whirlpool to report net profit at Rs 155.7 ... Read more »

Godrej Consumer Products Q2 PAT seen up 5.9% YoY to Rs 485.4 cr: KRChoksey

godrejconsumerproducts_300_250_90189245 KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the Consumer Goods sector. The brokerage house expects Godrej Consumer Products to report net profit at ... Read more »

Emami Q2 PAT seen up 35.9% YoY to Rs 160.9 cr: KRChoksey

Emami | The shareholding of the company has been increased from 34.70 percent to 57.36 percent in Brillare Science after the conversion of compulsorily convertible preference shares into equity shares. ... Read more »

NFT: CryptoPunk 6046 owner refuses record-breaking $9.5 million offer for his NFT asset

Photo by: A M Hasan Nasim/Pixabay CryptoPunk NFTs have been sold in recent months, and some of them are more popular than others. One of the most well-known is the ... Read more »

Ebusco continues IPO at full speed

The shares of the manufacturer of electric buses and charging systems will cost between €21.50 and €24.50. This gives the company from Deurne a market value of approximately €1.3 billion. ... Read more »

Jefferies lists 6 factors bringing back economic revival seen in 2003-10

Representational image. The growth of the Indian economy is poised for a repeat of the 2003-10-style upturn with low bad assets and high corporate profitability, Jefferies said in a report. The investment ... Read more »

Want to end FY22 with industry-leading growth: Mindtree CEO Debashis Chatterjee 

Mindtree CEO Debashis Chatterjee (Image: Mindtree) From Rs 700 in August 2019 to Rs 4,762 in October 2021, the Mindtree stock has generated returns of over 500 percent in the ... Read more »

Fire erupts at Kuwait oil refinery; minor injuries reported

A fire erupted on Monday at a major oil refinery in Kuwait, the state-owned oil company said, reporting that some workers suffered from smoke inhalation and other light injuries. The ... Read more »

Asian Paints Q2 PAT seen up 12.1% YoY to Rs 930.9 cr: KRChoksey

KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the Consumer Goods sector. The brokerage house expects Asian Paints to report net profit at Rs 930.9 ... Read more »

ITC Q2 PAT may dip 2.3% YoY to Rs 3,290.3 cr: KRChoksey

ITC Ltd logo | Representative image KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the Consumer Goods sector. The brokerage house expects ITC to report ... Read more »

Blue Star Q2 PAT seen up 36% YoY to Rs 20.8 cr: KRChoksey

blue_star_79488114 KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the Consumer Goods sector. The brokerage house expects Blue Star to report net profit at Rs ... Read more »

Hindustan Unilever Q2 PAT seen up 13.7% YoY to Rs 2,155.9 cr: KRChoksey

5 | Hindustan Unilever added Rs 1,997.15 crore taking its market valuation to Rs 6,22,359.73 crore. KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the ... Read more »

Colgate Palmolive Q2 PAT seen up 5.5% YoY to Rs 289.3 cr: KRChoksey

colgate_palmolive_slide_17jan_190_37007261 KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the Consumer Goods sector. The brokerage house expects Colgate Palmolive to report net profit at Rs ... Read more »

Britannia Industries Q2 PAT seen up 1.1% YoY to Rs 505 cr: KRChoksey

Britannia Industries KRChoksey has come out with its second quarter (July-September’ 21) earnings estimates for the Consumer Goods sector. The brokerage house expects Britannia Industries to report net profit at ... Read more »

Delhi govt launches online registration for e-auto permits with 33% reservation for women

The Delhi government launched online registration for e-auto permits with 33 percent reservation for women on Monday, Transport Minister Kailash Gahlot said. In the first phase, 4,261 e-auto permits, including ... Read more »

China's economic growth weakens due to power shortage and Evergrande problems

China appeared to have suffered little economic damage from the corona crisis, but growth nevertheless declined in the third quarter. The causes are energy shortages and the faltering of real ... Read more »

NFT: Steam bars NFT games as Epic Games announces it will accept these blockchain-based games

Photo by: ELLA DON/Unsplash Epic Games announced that it would be welcoming non-fungible token (NFT) games to its platform. The announcement comes after its rival. Steam Games revealed it would ... Read more »

Sunteck Realty forms partnership to develop 110-acre housing project in Maharashtra

Sunteck Realty Ltd on Monday said it has formed a joint development agreement to develop a new housing project in Maharashtra on 110-acre land parcel. In a regulatory filing, Sunteck said it would ”enter ... Read more »

Difficult for middle class to travel even by road: Priyanka Gandhi on rising fuel prices

Priyanka Gandhi Vadra releases statement on her arrest in Sitapur, Uttar Pradesh. Congress leader Priyanka Gandhi Vadra on Monday took a dig at the government, saying it promised to make ... Read more »

Sterlite Power bags Rs 324 crore transmission project

(Representative image) Sterlite Power on Monday said it has bagged Nangalbibra -Bongaigaon inter-state power transmission project worth Rs 324 crore. “Sterlite Power, a leading private sector power transmission infrastructure developer ... Read more »

Gas price in Europe down to $980 per 1,000 cubic meters as trading opens

The total decline of the price compared to the previous trading day equals around 10% Read more »