Thai Airways Sees 2008, 2009 Revenues Weaker
December 22, 2008
Thai Airways said on Monday the global economic crisis and recent shutdown of Bangkok's main airports would pull 2008 revenue growth below 10 percent, and the impact would continue in 2009.
The airline would miss its revenue growth target of 3-5 percent next year, Executive Vice President Pandit Chanapai told reporters, saying he was still working on a new figure.
"The target will have to be revised as we accept that global economic slowdown will certainly affect us. But we will use every way to win back tourists," Pandit said, adding it would increase overseas flights to India and the Middle-East.
The airline expects to lose about THB 500 million baht a day from the week-long siege by anti-government protesters that paralysed Thailand's tourism industry in the middle of the peak season and stranded more than 230,000 travellers.
The national carrier also said its "cabin factor" -- the percentage of seats sold -- would fall to 70 percent this year from a previous forecast of 73 percent, and compared to 77 percent in 2007, Pandit said.
The airline was reconsidering its 10 year business plan, including aircraft arrangements to match real demand, Pandit said, without giving further details.
The airline has said it plans to lease or buy 34 Boeing and Airbus passenger planes as part of a 10 year plan to replace its fleet.
It said in January it wanted to procure 65 aircraft worth THB400 billion to upgrade its 91 plane fleet over the next 10 years.
(Reuters)
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