Thai Airways not expecting to reach 2009 profit target; forecasts profit in 2010

Thai Airways President, Piyasvasti Amranand, stated the carrier may not reach its revenue target of USD4.5 billion and is unlikely to report a profit this year, due to fluctuating oil prices and low passenger yields, as a result of fare reduction campaigns (Reuters, 06-Nov-2009/The Nation, 09-Nov-2009). However, the carrier expects to report a net profit in 2010, due to economic recovery and its restructured management. THAI stated it started to see recovery in its cargo business and passenger traffic in 3Q2009, and forecast yields would rise in 2010.

Thai Airways: "The overall operation in the third quarter was positive, with a higher load factor. However, we are still facing a crisis," Piyasvasti Amranand, President. Source: The Nation, 09-Nov-2009.