Thai Deputy Transport Minister Thaworn Senneam has ordered Thai Airways International (TG, Bangkok Suvarnabhumi) to come up with yet another restructuring plan, this time focused on the carrier's network, The Bangkok Post has reported.
The loss-making flag carrier has been given a month to draw up a new business plan which sets out a way forward to profitability. In order to focus on the restructuring, the carrier recently announced that it will defer its long-planned fleet renewal drive by at least six months, which was to encompass the acquisition of 38 new aircraft.
Thaworn told local media that he would expect Thai Airways to come up with a plan to restructure its network and improve revenues, including through more efficient usage of new technologies. He added that while admittedly Thailand's open skies policy and competition from LCCs has not been "favourable" to the flag carrier, curbing losses should nonetheless be "not too hard to tackle".
The deputy minister requested the carrier to submit monthly reports regarding the progress of fleet management and business restructuring.
Thai Airways has over THB100 billion bahts (USD3.3 billion) in accumulated debt.
