Tourism boosts Thai Airways’ outlook

Thai forecasts quarterly profit for end of this year

Thai Airways says it expects to post a net profit for the fourth quarter as advance bookings signal a pick-up in Thailand’s tourism industry. The airline, which is due to announce its third-quarter results next week, also pointed optimistically to the fall in global oil prices as well as its own cost-cutting measures.

Thai Airways has posted losses for five straight quarters since the country’s vital tourism sector was hit by political unrest.

But the airline’s acting president, Siwakiat Jayema, told reporters without giving any figures: “Tourists are coming back in the fourth quarter. It is the peak season for travel sector.”

Thai Airways’ ongoing restructuring includes a plan to shed more than a quarter of its full-time employees by 2018.