1st Jun 2012
Piyasvasti Amranand, Thai Airways president, announced last week that it may consider setting up a low-cost airline after the company's robust performance during the first quarter.
The airline now focuses on most Asian destinations deemed profitable as it is trying to scrape off its losses incurred mostly from its European operations. It also faces stiff competition from chief rivals Cathay Pacific and Singapore Airlines.
The airline is also in talks with Nok Air to set up a new budget airline.
Thai Airways made a net profit of THB3.6 billion during the first-quarter of this year or 500% over the same period last year. The huge net gain was due to the growing number of passengers who helped the airline to make it profitable again.
Mr. Piyasvasti confidently said that the flag carrier would be able to attain its goal this year as it targets to achieve a THB6 billion profit. He claimed that Thai Airways is well on its way to achieve its target even though he's apprehensive about the second quarter which is a low season. He is optimistic though, that the second-quarter slump is only temporary as the travel season would usually pick up again on the third quarter.
The flag carrier is also expecting delivery of its first three Airbus A380 planes towards the end of 2012 as part of its major refleeting program. By 2013, another three Airbus A380s will complete the full delivery. In the next seven years, its fleet will grow to a total of 109 aircraft.