Cherdchai Tour up for sale as changing times, fuel prices derail 65-year-old company
The 65-year-old interprovincial bus company Cherdchai Tour has been put up for sale by owner Sujinda Cherdchai after the company suffered continuous losses since 2017 when low-cost airlines started to become popular among domestic travellers.
Sujinda, who is also president of the Thai Bus Operators Association, said on Monday that around 20-30 per cent of the company's over 200 fleet of buses are now running, while the rest have been parked at the depot due to falling passenger numbers and the recent hike in fuel price.
“Buses running long distances, such as Bangkok to the northern or northeastern provinces have seen the biggest losses, as people now prefer low-cost airlines,” she said. Also, during the Covid-19 outbreak people avoided using public buses for safety reasons and switched to personal or rental cars instead, she added. The trend continues until today despite public buses now using measures to ensure passengers’ safety from the virus.
“If we were to press all our buses into service, the fuel cost alone would go up to THB4 million a month. Therefore, we decided to keep only short-distance routes, mostly to the eastern provinces, so that we can keep hiring some drivers and staffers,” she added.
The 85-year-old Sujinda added that she has no intention to continue managing the loss-making business, as all her four children have their own companies to run, which prompted the decision to sell Cherdchai Tour.
Sujinda did not disclose the price at which she would sell the company.
Besides interprovincial buses, she is also involved with several businesses including bus body building, car sales and land rental.