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Thai Airways not at risk of shutting down, says airline president

Thai Airways not at risk of shutting down, says airline president

BANGKOK: Thai Airways International Plc (THAI) is not at risk of shutting down and recent news reports about the airline's situation were "misinterpreted", THAI president Sumeth Damrongchaitham insisted yesterday (Oct 23).

transporttourismeconomics
By Bangkok Post

Thursday 24 October 2019, 08:59AM


Thai Airways International president Sumeth Damrongchaitham briefs Deputy Prime Minister Somkid Jatusripitak on Sept 20, 2018. On Wednesday he rejected the possibility the loss-ridden airline may be forced to shut down. Photo: Bangkok Post / file

Thai Airways International president Sumeth Damrongchaitham briefs Deputy Prime Minister Somkid Jatusripitak on Sept 20, 2018. On Wednesday he rejected the possibility the loss-ridden airline may be forced to shut down. Photo: Bangkok Post / file

He was responding to media reports about a possible closure during remarks he made to high-ranking THAI staff.

He said the remarks were to encourage staff to make an all-out effort to ensure the struggling airline’s rehabilitation plan succeeds.

Mr Sumeth said the remarks made during a discussion with executives on Tuesday were “misinterpreted” as meaning the airline faced possible closure.

The discussion took place during a training session at the airline’s headquarters to remind them of the level of competition in the aviation industry.

He rejected the possibility of the flag carrier closing down, but admitted having to battle stiff competition, including from low-cost carriers.

With competition in the airline industry becoming more fierce, he said he had emphasised the importance and urgent need to overcome obstacles confronting the airline.

THAI staff were urged to take heed of how competitive the airline is in all areas of business, such as low-cost carrier competition, air fare promotions, and “cut throat” route competition in certain markets.

“THAI confirms it is perfectly capable to perform exceptionally amid tough airline competition,” he said in a statement issued by the airline.

SKYPARK

Mr Sumeth said he spoke to staff in order to motivate them to take immediate action to cut costs and boost profits.

“In an era when customers have so many offers to hand amid fierce airline competition, employees were asked to join forces and work to beat the competition for the inevitable achievement of improved operational results,” he said.

He also dismissed media reports that the airline was looking to stop flying to four destinations within the Asean region.

THAI has no plan to drop any routes, he said.

THAI is the national carrier and a state enterprise under the Transport Ministry.

According to the Stock Exchange of Thailand, the Finance Ministry is the largest shareholders with a 51.03% stake in the airline together with the state-run Vayupak Fund which holds another 15.16%.

 

Read original story here.

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DeKaaskopp | 25 October 2019 - 01:30:23

K,you should update your knowledge a bit before posting more nonsense about MAS.First it's not called MAS anymore but MAB.And MAB isn't managed by a foreigner anymore,they left all after a short while.You want  a foreign manager for Thai Air? Maybe the former manager of Air Berlin,Germania,Monarch or Thomas Cook are available.

Kurt | 24 October 2019 - 12:11:25

Is it not time to rescue THAI by getting a Singaporean-, British, Dutch, or German President-director to clean up the management mess in THAI? Someone who earned his excellent reputation in this international industry? It is helping MAS. Can rescue THAI.

Kurt | 24 October 2019 - 10:30:08

First a article that THAI is at risk of closure, followed by a article that THAI not at risk of shutting down as it performs exceptional. Hahaha.  All in category:" You misunderstood. I didn't mean that". The usual opening mouth before engaging brain. And that is a THAI President? Would be fun to know about his business education, his previous working performance elsewhere, salary + ...

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