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THAI Board of Directors Meeting Results

November 13, 2015 Business News No Comments Email Email

Thai Airways International Public Company Limited (THAI) held its Board of Directors Meeting, chaired by Mr. Areepong Bhoocha-oom, THAI’s Chairman of the Board of Directors, with the following results.http://eventscrm.ttgasia.com/ttg2016/itcmchina/buyer/itcmbuyer.asp?code=GlobalTravelMedia

Measures for Transformation Plan Adjustments

THAI’s Board of Directors acknowledged that the Company is in the process of transformation, beginning with the strategy to stop incurring losses by implementing flight reductions on unprofitable routes, unnecessary expenses, and emphasize increasing revenue through improved sales strategies and by seeking alternative revenue.  However, the Company is still affected by external occurrences while undergoing the transformation plan, such as the Rajprasong incident and the foreign exchange rate fluctuation, resulting in operating results that are not up to expectation.  The Company has established measures for all levels of management and staff to strictly adhere while maintain high safety standards and quality of service.  The measures are as follows:

1.      Revenue Increasing Measures

The Company has adjusted its route path and flight schedule, and also has various measures to increase revenue in order to improve its operating results with consideration to quality revenue to be suitable to costs.  Furthermore, the Company has arranged to utilize aircraft that is appropriate for network traffic and routes.

2.  Cost Reduction Measures

The Company issued measures to reduce expenses as follows:

–       Investment:  Defer investments that are not urgently needed and do not affect safety or customers, increase quality of managing systems and control purchasing and inventory products.
–       Cost control and expense reduction: This includes fuel management, with fuel hedging risk management, increase quality of managing route expenses, reduce advertising and public relations expenses, control overtime expenses, reduce donation funds and support for various organizations, and improve purchasing procedures.

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