Thai Airways Unveils Strategic Plan for Competitive Edge
Focused on Rehabilitation and Market Expansion to Overcome Past Challenges
Thai Airways International Pcl (THAI) is in the final stages of its rehabilitation plan, centering on capital restructuring.
In the first nine months of 2024, THAI and its subsidiaries achieved a revenue of 135.81 billion baht, marking a 17.2% increase from 115.89 billion baht in the previous year.
This improved performance allowed THAI to repay 3.531 billion baht as part of its rehabilitation plan.
Following years of losses from 2011 to 2021, which left 70 billion baht in negative equity and 130 billion baht in debt, THAI filed for business rehabilitation in September 2020.
The plan was approved in October 2022.
Chief Strategy Officer Taviroj Songkumpol and Chief Commercial Officer Korakot Chatasingha highlighted several strategic focuses: customer experience enhancement, revenue expansion, cost efficiency, and sustainable business practices.
THAI aims to capitalize on Thailand's status as an aviation hub by expanding its flight network, targeting European and Asia-Pacific markets.
The airline intends to transform into a private entity, modernizing its digital infrastructure and valuing employee development.
THAI emphasizes direct flight routes and partnerships to boost market presence and offers seamless connectivity with 10 direct European destinations despite the competitive landscape.
In the first nine months of 2024, THAI and its subsidiaries achieved a revenue of 135.81 billion baht, marking a 17.2% increase from 115.89 billion baht in the previous year.
This improved performance allowed THAI to repay 3.531 billion baht as part of its rehabilitation plan.
Following years of losses from 2011 to 2021, which left 70 billion baht in negative equity and 130 billion baht in debt, THAI filed for business rehabilitation in September 2020.
The plan was approved in October 2022.
Chief Strategy Officer Taviroj Songkumpol and Chief Commercial Officer Korakot Chatasingha highlighted several strategic focuses: customer experience enhancement, revenue expansion, cost efficiency, and sustainable business practices.
THAI aims to capitalize on Thailand's status as an aviation hub by expanding its flight network, targeting European and Asia-Pacific markets.
The airline intends to transform into a private entity, modernizing its digital infrastructure and valuing employee development.
THAI emphasizes direct flight routes and partnerships to boost market presence and offers seamless connectivity with 10 direct European destinations despite the competitive landscape.
