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Thai Airways Posts Record $4.7 Billion Loss as Debt Revamp Looms
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24 days agoThai Airways International Pcl, the nation’s flag carrier in the middle of a debt restructuring, reported a record loss last year after the coronavirus outbreak ground most of its services to a halt. The net loss widened to 141.2 billion baht ($4.7 billion), or 64.68 baht a share, from 12 billion baht, or 5.51 baht a share in 2019, Thai Airways said in an exchange filing Thursday. The annual loss was the largest ever for a Thai company, according to data compiled by the Stock Exchange of… (www.msn.com) More.
BANGKOK (Reuters) - Thai Airways International Pcl on Friday said it had cut around 240 executive positions at the airline as part of its bankruptcy restructuring process. The number of executive positions has been reduced from 740 to about 500, the airline said in a statement, adding that the move would increase efficiency by going from eight supervisory levels to five. (Reporting by Chayut Setboonsarng; Editing by Ed Davies)
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