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Thai to return to profit – and cut thousands of jobs

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Carrier aims to slash quarter of its full-time staff by 2018

Thai Airways says it expects a faster return to profit than planned – as soon as Q4 2014 – but at the cost of 1,500 jobs this year.

As part of a newly approved restructuring plan, the carrier also aims to slash more than a quarter of its full-time employees by 2018, while prioritising certain routes. The airline currently has 25,000 employees and a further 5,000 sub-contracted staff.

“We expect to see profit in the fourth quarter,” proclaimed Air Chief Marshall Prajin Juntong, currently chairman of Thai Airways as well as the military government’s head of economic affairs. Prajin is to step down on August 20, making way for vice chairman Areepong Bhoocha-oom to take over.

News agency Reuters says that Thai Airways was singled out as the first state enterprise to undergo reform by Thailand’s military rulers, who took over in May.

Reuters

[image courtesy Thai Airways]

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