THAI reports USD 900m loss for 2020 first half
The national carrier of Thailand Thai Airways reported on August 14 a lack of USD 900 million (THB 28 billion) for the first half of 2020 following coronavirus pandemic which includes plunged the airline’s businesses as well as the whole global aviation industry.
"The COVID-19 pandemic has resulted in numerous countries imposing lockdown measures, including travel restrictions, resulting in substantial reductions in domestic and international travel," said Charnsin Treenuchagron, Acting President, THAI, according to reports.
"Thai Airways does not have any choice but to lessen its flights in line with reduced passenger loads."
Thai Airways booked losses of THB 22.68 billion and THB 5.35 billion in its first and second quarters respectively, added Charnsin.
The ongoing pandemic has further contributed to the economical struggle of the cash-strapped flag carrier. THAI has been reporting losses since 2017. As a result, it had to be bailed out by the federal government.
After the virus outbreak, Thailand closed its borders and cancelled all flights in March, with domestic air traffic resuming only recently, while international flights are carrying only essential travellers and THAI residents stranded around the world.
Moreover, because of the Thai government’s efforts, Thailand successfully contained the spread of the virus within the country. Thus there has been no community spread for months now.
