THAI proceeds with restructuring plan

BANGKOK, February 24 (TNA) - Thai Airways International (THAI), the national flag carrier, is proceeding with a restructuring plan, with its board having resolved to sell 14 old planes and gradually terminate 15-20 loss-ridden routes. THAI President Charamporn Jotikasthira told journalists on Tuesday that the THAI board has decided to sell six Airbus A330-300s, six Airbus A340-600s and two Boeing 747-400s. Charamporn said the THAI board is expected to consider the sale of eight more Boeing 747-400s in June. Besides, the national airline's board also resolved to end 15-20 flight routes to reduce losses, including Bangkok-Moscow, Bangkok-Madrid and Bangkok-Johannesburg routes, after having already terminated 10 routes and reduced flight frequencies on routes to Frankfurt and London. According to the THAI president, the national airline will, however, increase flight frequencies on potential routes, most of which are regional. This year, the THAI president stated, the national flag carrier expects its total revenue to stand at 170 billion baht, lower than its earlier target of 185 billion baht, with the revenue to mainly come from asset sales, while its loss is also expected to be lower this year. (TNA)