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Thai Airways expects further losses in 2014 due to unrest

Source: Reuters - Fri, 21 Feb 2014 07:23 GMT
Author: Reuters
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BANGKOK, Feb 21 (Reuters) - Thai Airways International expects a net loss of about 12 billion baht ($368 million) in 2013 and similar losses in 2014 due to the cost of new aircraft and a drop in tourist arrivals because of political unrest, a board member said on Friday.

In order to cut costs and address the drop in passengers, the national carrier plans to reduce the number of flights by 20-30 percent, the board member, who declined to be named, told reporters.

The impact of the political unrest is expected to be felt until the third quarter of this year, he said.

The airline is due to announce its 2013 earnings on Feb. 25. ($1 = 32.5850 Thai baht) (Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Alan Raybould)

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