Thai Airways not at risk of shutting down
Thai Airways not at risk of shutting down.
Thai Airways International was continuing operations and had no plans to shut down, THAI president Sumeth Damrongchaitham said on Wednesday.
Mr Sumeth said his message in talks with executives on Tuesday were misinterpreted as meaning the airline faced possible closure.
The THAI president on Wednesday rejected the possibility of a business shutdown, but admitted having to battle stiff competition, including from low-cost carriers.
“THAI confirms its capability to perform exceptionally amidst tough airline competition,” he said in a statement issued by the airline
Mr Sumeth held talks with the high-ranking staff during a training session at the airline’s headquarters to remind them of the level of competition in the aviation sector, and of the need for action to cut costs and boost profits.
THAI shares on Tuesday plummeted 2.47% to 7.90 baht. The Stock Exchange of Thailand was closed on Wednesday for Chulalongkorn Memorial Day.
