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- RonnyLatYa: If at all possible, I also avoid driving at night. The reasons for this are already given in the comments above
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- Founding_Father: Thanks Guy. How can I get in touch with you?
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- Henk: Yes, hello, that's what you said yourself: “It is impossible to have a decent word with the family because: I am married by marriage, so only
- Matthias: SiamTom, Everyone has to decide for themselves how much money they want to throw out through doors and windows. The amounts you pay for
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- Henk: I'm talking about when only a single state pension is available. So no 800K ThB and not even 400K ThB, and
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Home » News from Thailand » Record loss for THAI: More than 141 billion baht
Record loss for THAI: More than 141 billion baht
QRoy / Shutterstock.com
Thai Airways International (THAI) suffered a record loss last year as air traffic came to a virtual standstill due to the pandemic.
The net loss in 2020 is 141,2 billion baht. This loss is the largest ever made by a Thai company, according to data from the SET. Revenue fell 73,8 percent to 48,3 billion baht.
THAI has been writing red numbers since 2013. Thailand's flag carrier, which has gone into receivership, is currently preparing a debt restructuring program to be presented to the Bankruptcy Court next month in a bid to reduce its 336,7 billion baht liabilities and return to profit.
Source: Bangkok Post
Well,
With the exception of a single airline (Korea Airlines), every airline makes a loss, so it is not surprising.
Which is strange that people just keep flying as if nothing is wrong with a negative equity, such as Alitalia, AF + KLM, Thai Airways and many, many others.
That is very cheap to do business with someone else's capital, why do they lease or rent the aircraft: that is because then they do not have to make large investments and are tied to repayment and interest obligations for a long time. It is profitable for existing owners/shareholders if you want to grow because you use someone else's money, which means you have more revenue and generate more profit.
It is strange that all those loss-making companies can still give billions to sponsorship…just think of the largest football clubs. I think people make Jan Modaal as much fool as they want.
337 billion THB is, if I can count correctly, +/- 9 billion euros, in my opinion "crack" the same amount that Merkel gave to Lufthansa in 2020? Didn't read anything about this in this blog. Hopefully Prayuth Chan-ocha can also pull this amount up his sleeve, in fact it will most likely be the case .. in the first instance on the basis of the wealthy shareholders and of course also because of national pride.
Which society doesn't have a hard time besides the Arab ones who, so to speak, fly on tap water, and who indeed support football factories (ploughing is a big word).
Let us open that Thai Air and other airlines, with or without support, will survive and within a few years we will not have a monopoly of a few who then raise prices to 13.000 ft. “Healthy” competition must exist and remain.
And furthermore, asking the price that is “real” is not difficult = cost price + overhead (10%?) + expected profit (8%?).
Now a flight to Bkk costs € 1.000 h / w instead of € 700, so what ... if you eat 3 x Pad Thai instead of in a good restaurant in the Benelux, then you have already figured it out .. otherwise you go to Benidorm .
Many societies are facing the abyss. State support and/or state protection is necessary.
Selling part of the fleet is also not an option, because there is hardly any demand for aircraft. Many are leased. Are the leasing companies willing to help? I actually wonder how European companies are currently surviving with the strict EU rules.
I hope that Thai Airways and the Brussels-Bangkok flight route will continue to exist.
It is written that thai arways are considering purchasing new planes, it is their honor to pay the people who have not yet received a refund for the canceled tickets, and not to put them on an even longer job, we are waiting been on our money for a year.
So are we, we are now waiting via Budget air for the correct refund of the tickets we booked in March 2020.
We are also waiting for a refund from September.
The current minister has already said several times that this is only something that a journalist suggested and that there is no question, let alone money, for it.
If Th Air has been making such a huge loss for 8 years, then it can only be the end of the National Thai Airline.
Hoa long has to be waited for this is a loss of face on a world level.
Thais don't like that.
How should Prayut & Co sell this?
Pear,
My wife has heard from a good source that Thai Airways enjoys very good protection from the royal family and the highest placed within the government. It is the pride of their country. No matter how deep and how long that mountain of debt is, she does not think that society will be lost. I think this could be true, otherwise that company would have closed down a long time ago.
It is of course very sad that the people who still have a refund credit may never see their money again.
However, my fear is that we have not yet had the economic downturn of the corona crisis. I don't expect an immediate upturn in the economy just yet.