More cuts at Thai Airways as flagship carrier continues rehab process

The chairman of the Thai Airways rehabilitation plan says the airline is making good progress with cost-cutting workout routines. Piyasvasti Amranand says Thailand’s nationwide carrier has managed to recuperate 44.8 billion baht by slicing its workforce and ending plane lease agreements.
“Thai Airways’ operational performance has progressed satisfactorily in many elements, including cost discount and organisational restructuring.”
According to a TTR Weekly report, the airline carried out four hundred precedence projects to scale back operational bills, achieving 77% of its cost-cutting target. The workforce has been slashed from 29,500 employees in 2021, costing 2,600 million baht a month, to 14,900 now, at a monthly cost of 600 million baht. Piyasvasti says the job cuts have saved the provider sixteen billion baht, in addition to a 12 billion baht discount in gasoline costs, and savings from fleet restructuring. The return of leased aircraft, coupled with engine negotiations, has resulted in one other 11.3 billion baht discount in costs.
Thai Airways has ended lease agreements on sixteen plane, and is promoting or disposing of 42 fuel-inefficient aircraft. The carrier is left with 38 operational plane, while its subsidiary, Thai Smile, continues to operate an extra 20 A320 aircraft.
The reduced workforce means the airline has been in a position to put a few of its vacant office properties in Bangkok, Chiang Mai, and Chiang Rai up on the market or hire, and will presumably rent out some flooring at its head office building to find a way to cut costs additional. Meanwhile, much-talked about perks Worldwide to free business or first-class tickets for board members, retired workers and their households have been cancelled or decreased.
TTR Weekly reports that last month, Thai Airways generated essentially the most working revenue since April 2020, reflecting a light-weight at the end of the tunnel for the aviation sector as an entire. Since Shocking , the carrier has earned around 10,000 million baht from its cargo and mail service, whereas its Aviation Business Unit generated four,800 million baht from offering companies to eighty airways. Its working loss during the first half of 2021 was additionally lower than 2020, at 3,973 million baht, with net revenue 39,151 million baht greater than final yr, at eleven,121 million.
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