THAI slashes jobs and aircraft leases

BANGKOK, 4 November 2021: Thai Airways International recouped THB44.8 billion mostly from massive cuts to the workforce and aircraft leases according to the airline’s latest rehab progress report.

Rehabilitation Plan chairman, Piyasvasti Amranand, delivered the progress report saying: ” THAI’s operational performance has progressed satisfactorily in many aspects including cost reduction and organisation restructuring.” 

He noted that THAI adopted 400 priority projects that cut
operational expenses by THB 44,800 million, representing 77% of the rehab’s
target. 

Massive savings resulted from a so-called “people
rightsizing”. THAI cut its workforce from 29,500 in 2021, with a monthly
wage bill of THB2,600 million, to the current level of 14,900 staff, costing
THB600 million a month.

Staff cuts have saved the airline THB16 billion according to
the rehab progress…