More cuts at Thai Airways as flagship service continues rehab process

Sale ends soon of the Thai Airways rehabilitation plan says the airline is making good progress with cost-cutting workouts. Piyasvasti Amranand says Thailand’s nationwide service has managed to recover forty four.8 billion baht by chopping its workforce and ending plane lease agreements.
“Thai Airways’ operational performance has progressed satisfactorily in many aspects, together with cost reduction and organisational restructuring.”
According to Approved , the airline applied four hundred precedence initiatives to reduce back operational expenses, achieving 77% of its cost-cutting goal. The workforce has been slashed from 29,500 staff in 2021, costing 2,600 million baht a month, to 14,900 now, at a monthly value of 600 million baht. Piyasvasti says the job cuts have saved the service sixteen billion baht, in addition to a 12 billion baht reduction in fuel prices, and savings from fleet restructuring. The return of leased aircraft, coupled with engine negotiations, has resulted in another eleven.3 billion baht discount in costs.
Thai Airways has ended lease agreements on 16 plane, and is promoting or disposing of forty two fuel-inefficient aircraft. The service is left with 38 operational aircraft, whereas its subsidiary, Thai Smile, continues to function an additional 20 A320 plane.
The lowered workforce means the airline has been able to put a few of its vacant workplace properties in Bangkok, Chiang Mai, and Chiang Rai up on the market or lease, and will presumably lease out some flooring at its head office building in order to minimize prices additional. Meanwhile, much-talked about perks corresponding to free business or first-class tickets for board members, retired staff and their families have been cancelled or lowered.
TTR Weekly reports that last month, Thai Airways generated essentially the most operating revenue since April 2020, reflecting a light on the end of the tunnel for the aviation sector as a whole. Since April 2020, the provider has earned around 10,000 million baht from its cargo and mail service, whereas its Aviation Business Unit generated four,800 million baht from providing companies to eighty airlines. Its working loss through the first half of 2021 was also lower than 2020, at three,973 million baht, with internet profit 39,151 million baht greater than last year, at eleven,121 million.
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