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Baht/$ 34.34/41 (Bid/Ask)
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14450
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BOONSONG KOSITCHOTETHANA
Thai Airways International is moving to cut back flights, especially on regional routes, in line with the sharp drop in passenger demand due to the political turmoil and the global financial crisis.
''The situation has deteriorated from bad to worse, well beyond our expectation. [It] is becoming more critical for us to reassess our frequencies,'' executive vice-president Pandit Chanapai said.
The extent of the cuts has yet to be worked out and THAI may take steps such as merging flights to suit passenger numbers to contain losses, he said.
THAI's cabin factor in September dropped more than it expected and the deepening political strife is making conditions worse. The airline filled just 70% of its seats in the third quarter.
Countries in Asia are far more sensitive to bad news than the long-haul market from which THAI saw smaller declines.''What is terrible about the current political crisis is in its open-ended nature. Unlike 9/11, Sars and the tsunami, we don't when it will end,'' Mr Pandit said.
For the first half of this year, THAI posted a loss of 7.04 billion baht.
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