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Fast Tracking THAI Towards A Complete Turnaround
21st Oct 2015
Charamporn Jotikasthira, President of Thai Airways International (THAI) expressed his commitment to turn the airline back to a healthier financial condition.
The THAI president gave this pronouncement after the State Enterprise Policy Committee (SEPC) and the airline's board of trustees convened early this week.
According to Charamporn, the airline has exhibited favourable performance versus its growth targets but believes it can do better. Thus, he wants to hasten operational improvements as well as cost cutting measures to yield timely, positive results.
He said that the airline is on course as regards other revenue generating programmes such as aircraft disposal and improved flight management.
Charamporn disclosed that units within the organization are working on their targets. However, some seem to be lagging behind in terms of implementing their rehabilitation plans. He went on to say that the magnitude of the rehabilitation plan and the set time frame could be one of the reasons why some units are struggling to meet expectations.
The programme which is divided into various phases was launched early this year. The first phase is aimed at arresting further operational losses.
Taweesak Kor-anantakul of SEPC advised the airline's board to ensure that management is reminded of THAI's financial condition.
He commented that the airline's rehabilitation programme could turn out well but thinks that it needs to push harder given that it is still short of third quarter deliverables. He noted that some cost cutting goals haven't been attained yet although he still lauded the airlines' success in resuscitating its cargo business.
One of Charamporn's first initiatives when he was installed as THAI President this 2015 was to launch a rehabilitation programme. The target was to revive the ailing company in a span of two years.
Lately, he made a pronouncement that the airline is focusing on attaining 70 per cent of its targets by January of the following year. This means that by early next year, the airline should already be realizing revenues from operations.
By 2017, THAI hopes to have reached a complete turnaround.
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