Thai Airways shares suspended due to expected losses

**Mid** · 25-02-2014, 03:43 PM

Thai Airways shares suspended due to expected losses
Phil Davies
25 February 2014

Trading in Thai Airways International shares has been temporarily halted on the Bangkok stock exchange amid reports that the airline made annual losses of 13 billion baht.

The airline said its financial performance for 2013 was under review by its financial auditor.

The suspension in share trading was lifted after Thai “clearly and completely” clarified all relevant information.

The airline last week suspended dividend payments for 2013 and set its annual shareholders meeting for April 29.

The carrier had been due to release its annual results today (Tuesday), reflecting a slump in tourism since anti-government protests began in November.

Meanwhile, an explosion and gunfire rang out near a protest site in Bangkok early today after the protesters' leader warned that government supporters were planning to bring armed militants to Bangkok, Reuters reported.

Weeks of unrest, in which protesters have barricaded several Bangkok intersections, have been interrupted by occasional bombs and gunfire, with one blast killing a woman and a young brother and sister in a shopping district on Sunday.

There was another explosion and more gunfire near one protest site on the edge of Bangkok's Lumpini Park in the early hours of Tuesday, national security chief Paradorn Pattanathabutr said. Two men were reported to be wounded.

The Foreign and Commonwealth Office yesterday updated its travel advice to Thailand, saying that British travellers should not enter protest sites or adjacent pedestrian areas.

travelweekly.co.uk

**klong toey** · 25-02-2014, 03:57 PM

Wonder how much 5 A380's cost.

At the commencement of 2014, Thai Airways (THAI) was subject to a rumor that the company would declare bankruptcy in May 2014. Listed on the Thai stock exchange, the company is a state enterprise in which the Finance Ministry holds a stake of up to 51%. In a statement to the media, Chokchai Panyayong, the airways' senior executive vice-president and acting president, stated: "THAI has never once defaulted. Despite its loss in the third quarter of last year, the company still has high liquidity and has a clear plan for debt repayment." He further explained that the carrier's loss of Bt6.35 billion in the third quarter of last year was the result of the company's unsuccessful plan to attract more customers.
http://en.wikipedia.org/wiki/Thai_Ai...nancial_losses

**baldrick** · 25-02-2014, 04:03 PM

Originally Posted by Mid

annual losses of 13 billion baht.

500 million USD ? how many free first class tickets for poo yai thiefs to london is that ?

**Bettyboo** · 25-02-2014, 04:07 PM

That's not good...

A decent airline being driven into the ground over a couple of decades.

**klong toey** · 25-02-2014, 04:15 PM

The trouble with Thai it doesn't really seem to want you to fly with them more than once.
Especially if your farang we still fly with them but to be honest i should be certified insane,to keep giving this airline our hard earned baht.

**Smug Farang Bore** · 25-02-2014, 04:16 PM

^^^ beat me to it.

The whole of business and first is full of hiso freeloaders.

**taxexile** · 25-02-2014, 04:20 PM

reflecting a slump in tourism since anti-government protests began in November.

a sizeable proportion of thai airways losses are probably due to thai freeloaders who abuse their position to obtain free flights etc.

aaah, beaten to it.

**Bettyboo** · 25-02-2014, 04:25 PM

Thoroughly agree that the airline suffers from hi-so freeloaders. But, let's face it, the various political problems since 2006 must have had an impact, along with mismanagement due to nepotism, the standard lies and corruption that come along with the Thai business environment and the lack of ability to move with the times.

I flew with this airline a few months ago, and it was a good experience. 30% more expensive than other airlines though...

**hazz** · 25-02-2014, 06:57 PM

Its why they had their a380's fitted out with some many bclass seats..... so they would have a couple left to sell after the free loaders.

but in seriousness people have been cancelling their flights to thailand in droves, last few flights I have had with them have been almost empty. last time in 40 rows of 8 seats, they had about 12 people and its a flight thats normally full. its this represents the norm, its going to kill them given that bkk its their hub.

**Makmak456** · 26-02-2014, 01:43 AM

I came to Thailand via Thaiair, 2nd trip. Non-stop LAX to Bkk. Something like 17-18 hours. Never agin, my limit is 12 hours

**Bettyboo** · 26-02-2014, 02:07 AM

^didn't even know flights could be that long, now I do, horrible...

I once did Auckland to LA, and I've done LA/London many times, the London/Bkk is 11-12 hours, all bloody horrible and boring as fuk, but not soooooo long. It's bad when you get on a plane, pissed obviously, then wake up with a hangover - any flight like that is too long. My worst trip was Auckland to London via LA ( a 9 hour stop-over), I had 2 hangovers on the journey - horriblemaximus.

I couldn't imagine doing 17, 18 or 19 hours...

What It's Like to Fly for 18 Hours on the Longest Flight in the World || Jaunted

**kingwilly** · 26-02-2014, 02:18 AM

I did brisbane to LA once, that was bladdy orrible.

**Norton** · 26-02-2014, 07:58 AM

Originally Posted by Bettyboo

the various political problems since 2006 must have had an impact

Along with mismanagement and the freeloaders, a major factor. Saw on news this AM expected tourism this year will be down about 1.1 million visitors with loses expected more than 20 billion dollars.

**Mr Lick** · 26-02-2014, 09:18 AM

A decade ago I was a frequent flier with Thai, they even threw in free upgrade to business class on a couple of occasions. ( looking back I may have contributed to their downfall)

When Thai started to increase their ticket prices quite substantially whilst still using old aircraft I preferred to use Eva Air (had a great flight to Bangkok last week btw, staff were terrific at Heathrow, perhaps grateful to have passengers flying to Bangkok given the unsettling amount of violence there.)

Noticeably Thai domestic have an almost 50% reduction on their ticket price Bangkok/ Khon Kaen route. 1,400 baht last week possibly attributed to Air Asia now flying the same route (Don Muang) for 900 baht.

**Mid** · 26-02-2014, 03:35 PM

THAI takes Bt12 bn consolidated net loss for 2013
February 26, 2014

Thai Airways International and subsidiaries recorded a consolidated net loss last year of Bt12 billion compared to 2012 net profit of Bt6.510 billion, due to the combined impairment loss of Bt5.426 billion and a Bt3.895 billion loss on foreign currency exchange.

nationmultimedia.com

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