Thai Airways fly for the last time to frankfurt before it takes a break

By TIN Media | Asean News Published 4 months ago on 3 April 2020
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BANGKOK :

In Bangkok, Thai Airways International (THAI) was able to provide its last international service flying to Frankfurt from the Suvarnabhumi International Airport before it takes a break until 31 May.

If the flag carrier returns the management will possibly use the downtime to discuss the ways to turn the financially struggling airline around with its executive team.

According to the local news sources, the airline is prepared to introduce wage cuts, austerity measures and reduce the activities of its affiliates.

THAI is not alone, because of the devastating effect on international airline operations caused by COVID-19, to restructure its business.

In the second quarter of this year, which ends on June 30, the International Air Transport Association (IATA) expects airlines to exhaust 61 billion US$ of their cash reserves.

"We're seeing a catastrophic net loss of 39 billion USD in the second quarter," said Alexandre de Juniac, General Director and CEO of IATA. 

"Airlines can not save money fast enough to withstand the burden of this crisis.


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