Thai Airways International Public Company Limited (THAI) announced its first half 2015 operating results with a net loss of THB 8,218 million. Its primary aviation business operating results incurred a net loss of THB 297 million – representing an improvement of 97% from the net loss of THB 10,986 million in the same period last year. Loss in this year period was impacted mainly from special items including impairment of decommissioned aircraft, MSP staff expenses in accordance with the transformation plan, profit from the foreign currency exchange rate and tax credit in conjunction with certain revenue drop from tourism low season.Charamporn Jotikasthira, THAI President, announced that the Company has currently undergone its transformation plan since the first quarter of 2015. In the second quarter, the day flight to Frankfurt was suspended as of 1 May 2015, based on network adjustment plans to curb losses. Fleet strategy was made by decommissioning one aircraft while taking delivery of two new aircraft, which resulted in a fleet of 94 aircraft as of 30 June 2015. THAI offered staff the opportunity to participate in the Mutual Separation Plan (MSP) and a similar Golden Handshake program for cabin crew, in order to manage job positions that were affected from flight and route adjustments. These staff reduction programs will help improve the personnel expense structure as well as reduce longer time expense.
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