26-Apr-2012 9:00 AM

Thai Airways chairman determined to return airline to profitability

Thai Airways chairman Ampon Kittiampon expressed (25-Apr-2012) his determination to return the carrier to profitability in 2012 following a THB10 billion (USD322 million) loss in 2011. Speaking at the airline's annual shareholders meeting, Mr Kittiampon said the airline will not pay a dividend for 2011 due to the loss. Thai Airways is attempting to turn its operation around in 2012 with the “introduction of aggressive strategies” including the launch of low-cost subsidiary Thai Smile on 07-Jul-2012. Non-core areas of the airline will be in focus in 2012 including the airline’s catering and ground services operations. Mr Kittiampon stated he expects Thai Airways’ net profit to reach THB6 billion (USD194 million) in 2012. [more - original PR]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More