Thai Airways Sees 2015 Loss Before Returning to Profit on Revamp

Thai Airways International Pcl, which has posted annual losses the past two years, expects to show another loss this year before returning to profitability in 2016 by selling aircraft, dropping routes and cutting other costs.

Thailand’s biggest carrier will record a “significant loss” from selling 42 aging planes this year for less than their book value, President Charamporn Jotikasthira said in an interview in Bangkok on March 25. Reducing the fleet to about 77 planes and cutting the types of aircraft flown to 8 from 11 will “substantially” trim operating costs, he said.