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Home » IANS » Thai Airways reports $900mn loss for 2020 1st half

Thai Airways reports $900mn loss for 2020 1st half

By IANS
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Bangkok, Aug 15 (IANS) Thai Airways has reported losses amounting to 28 billion baht ($900 million) for the first half of this year, mainly due to the Covid-19 pandemic, massively impacting the flag carrier’s operations.

“The Covid-19 pandemic has led to numerous countries imposing lockdown measures, including travel restrictions, resulting in substantial reductions in domestic and international travel,” Xinhua news agency quoted the airline’s acting president Charnsin Treenuchagron as saying on Friday,

“Thai Airways has no choice but to reduce its flights in line with reduced passenger loads.”

Thai Airways booked losses of 22.68 billion baht and 5.35 billion baht) in its first and second quarters, respectively, said Charnsin.

The ongoing pandemic has aggravated the economic problems of the cash-strapped flag carrier, which had to be bailed out by the government.

The airline has been reporting losses since 2017.

Just like most other parts of Asia, Thai authorities closed borders and cancelled all flights in March, with domestic air traffic resuming only recently, while international flights continue to be almost paralyzed.

–IANS

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(This story has not been edited by Newsd staff and is auto-generated from a syndicated feed.)
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