Thai Airways "stopped bleeding" and on track to achieve cost cutting target

Thai Airways President, Piyasvasti Amranand stated the carrier is on track to achieve its cost cutting target of USD357 million for 2009, after reporting cost savings of USD310 million for the first nine months of the year (Bangkok Post, 21-Nov-2009). Mr Amranand stating the savings also indicate its target to achieve a 15% reduction in fuel costs is achievable. The carrier plans to continue with cost cutting plans in 2010, aiming to equal or exceed this year's target.

Thai Airways: ''We have stopped bleeding but are still in the critical stage, requiring us to work hard to achieve a true recovery,'' Piyasvasti Amranand, President. Source: Bangkok Post, 21-Nov-2009.