THAI reports USD 900m loss for 2020 first half

Dhaka: The national carrier of Thailand Thai Airways reported on August 14 a loss of USD 900 million (THB 28 billion) for the first half of 2020 following the coronavirus pandemic which has plunged the airline’s operations as well as the entire global aviation industry.

"The COVID-19 pandemic has led to numerous countries imposing lockdown measures, including travel restrictions, resulting in substantial reductions in domestic and international travel," said Charnsin Treenuchagron, Acting President, THAI, according to reports.

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

Thai Airways booked losses of THB 22.68 billion and THB 5.35 billion in its first and second quarters respectively, added Charnsin.

The ongoing pandemic has further contributed to the economic struggle of the cash-strapped flag carrier. THAI has been reporting losses since 2017. As a result, it had to be bailed out by the government.

After the virus outbreak, Thailand closed its borders and cancelled all flights in March, with domestic air traffic resuming only recently, while international flights are currently carrying only essential travellers and THAI residents stranded across the globe.

Moreover, thanks to the Thai government’s efforts, Thailand successfully contained the spread of the virus within the country. Thus there has been no community spread for months now.