THAI may cut more jobs as revamp deepens

Usanee Sangsingkeo, executive vice president for the aviation business unit and acting president of THAI, said the airline might need to cut some more staff this year as part of its continued rehabilitation and cost-cutting plan, but not as much as it has over the last two years.
“It will be [done on a] case-by-case basis,” she said.
THAI’s board of directors recently agreed to increase staff salaries by an average of 6 per cent, while pay rises for executives would be lower than 6 per cent, retroactive to January. 
The national carrier is planning to increase ticket sales via online channels along with seeking more income from its catering unit, its ground-handling unit, and other business.
The airline is confident of bringing in more income from ticket sales as this year its seat capacity has been increased by 7 per cent thanks to more aircraft and refurbishment of older planes. 
Chief financial officer Narongchai Wongthanavimok said that although THAI foresees a bright future for the travel industry, it faced some risks, especially tough competition and rising jet-fuel prices. 
If there are no major negative issues such as wars or natural disasters and oil prices do not get too high, the airline hopes its passenger load factor will be higher than in 2016. During the first two months of this year, THAI’s passenger cabin factor was over 80 per cent.
On Tuesday, the company reported that THAI and its subsidiaries showed an operating profit of Bt4.07 billion last year compared with a loss of Bt1.30 billion in 2015, for a 412.2-per-cent improvement in performance.
In 2016, THAI and its subsidiaries reported a net profit of Bt47 million. Profit attributable to owners of the parent amounted to Bt15 million.