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

x

Check Also

KrisFlyer, SIA, Singapore Airlines, blockchain, technology, wallet, spend, shopping, retail

SIA creates “blockchain-based loyalty wallet”

Singapore Airlines’ loyalty scheme will launch the “world's first blockchain-based loyalty digital wallet”.

Copenhagen, CPH, airport, Nordic, Stockholm, where, confirm, Air India, dreamliner, 787, new route, Delhi,

Air India to be split up and sold

Debt-heavy flag carrier links Delhi with Scandinavia.

iata, forecast, 20 year, China, USA, world, travel, air, airlines, demand, India, UK, Europe, Indonesia, Asia

Airbus: A380 production may end

But a deal with its biggest customer could still happen

Singapore Airlines, SIA, profit, year, operating, net, revenue, Korean air, quarter, 2016, 2017

Singapore Airlines flight on fire at Changi

Flames erupt from SIA Boeing aircraft on landing

premium economy, seating, SIA, Singapore Airlines, bid, upgrade, auction

SIA starts to auction seat upgrades

New bidding tool available invitation-only

pyjamas, Qantas, Singapore Airlines, premium, first class, luxury

Airlines go to war – over your pyjamas

Carriers battle over the finest exclusive nightwear