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THAI airways plans to cut staff by 50% or staff costs by 18 billion baht annually over next 2 years

13 Sept 18:23 Key points summarised by AI

Thai Airways plans to halve its workforce to under 15,000 and slash annual staff expenses by 18 billion baht over two years as part of its rehabilitation.
The airline will streamline operations by reducing aircraft types from 12 to 5, maintaining a fleet of 86, and cutting unprofitable routes, focusing on profitable operations without purchasing new aircraft.
To manage 410 billion baht in debt, THAI will pay only the principal with a three-year grace period and allocate 50 billion baht to increase liquidity for sustained operations.
Despite difficulties in securing new investors, the airline aims for profitability within four years, potentially supported by a 35-50 billion baht capital increase from the Office of State Enterprise Policy Committee.

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.