Thai Airways returns to quarterly profit

Cost cutting and voluntary retirements to continue in 2016
Thai Airways returned to profit in the fourth quarter, cutting its 2015 loss through restructuring that reduced operating costs and improved passenger revenues.
Net profit was THB 5.4 billion (€140 million) for the October-December period, reversing a net loss of THB 6.2 billion for the same quarter a year earlier.
For the full year 2015, the carrier posted a net loss of THB 13 billion, smaller than 2014’s THB 15.6 billion net loss. Operating revenues in 2015 fell 1.2% to THB 188.7 billion, while operating expenses fell 11.2%.
The airline’s president Charumporn Jotikasthira says that cost cutting and expanding the customer base will remain the focus in 2016. THB 2 billion will be spent on voluntary retirements this year, on top of THB 5 billion paid out last year.
Reuters

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