Thai flag carrier airline sees continued huge loss in Q3
Source: Xinhua | 2020-11-13
Thailand's flag carrier airline Thai Airways International (THAI) saw continued huge loss in the third quarter of this year largely due to the impact from the COVID-19 pandemic, said its acting president Chansin Treenuchakorn on Thursday.
The THAI company suffered 516.26 million U.S. dollars in losses as its operating costs totaled 639.22 million U.S. dollars in the quarter, he said.
The loss-ridden airline made some 122.96 million U.S. dollars in earnings mostly from international cargo flights during the period, marking a steep drop of 1.24 billion U.S. dollars, or 95.1 percent, from the same period last year, according to the acting THAI president.
Such critical losses of the financially ailing airline were largely blamed on the suspension of international passenger flights amid the global pandemic, according to Chansin.
Given the sharp decline in the number of international flights, the airline has put more than 400 categories of its consumer goods that are used aboard flights, for sale to members of the public, ranging from coffee cups and tissue paper to second-hand Airbus and Boeing aircraft.
Meanwhile, some 5,000 out of the cash-strapped company's 19,000 employees have offered to take early retirement from Dec. 1 to help ease its financial burdens.
Thailand's Central Bankruptcy Court has earlier ordered the THAI airline company to carry out financial rehabilitation and debt repayment.
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