THAI Smile hopes restructuring will close yawning losses
published : 8 May 2019 at 16:23
writer: Thodsapol Hongtong
THAI Smile Airways' chairman of the board is confident the airline's performance will improve after a restructuring plan aimed at cutting costs and boosting efficiency.
Sumeth Damrongchaitham said on Wednesday he was banking on the corporate changes yielding better results after the airline accumulated a mountain of debt.
THAI Smile is a wholly-owned subsidiary of Thai Airways International. Mr Sumeth is the president of THAI and the chairman of THAI Smile's board.
Mr Sumeth has ordered an end to the duplication of tasks, and the two airlines will merge their respective marketing, finance, personnel and training units in a bid to end losses and improve efficiency.
THAI Smile is set up to serve domestic and regional destinations for THAI.
It has faced stiff competition from other no-frills airlines, and reported accumulated losses of 8.27 billion baht at the end of last year.