Bangkok--3 Feb--Thai Airways
The State Enterprise Policy Office (SEPO) and the Committee on Rehabilitation and Development of Air Transportation responded affirmatively to the overview of Thai Airways International’s Business Improvement Plan.
ACM Narongsak Sanapong, THAI’s Senior Executive Vice President, Corporate Secretariat and Acting President, said that THAI’s Business Improvement Plan Working Group proposed the draft business improvement plan to SEPO and to the Committee on Rehabilitation and Development of Air Transportation led by Chairman, Dr. Srisuk Chandrangsu. The Business Improvement Plan was accepted in principle, whereby THAI would incorporate suggestions from the meeting into a detailed plan before putting it forward to the Ministry of Transport and Ministry of Finance in February 2009.
There are 3 stages of THAI’s Business Improvement Plan. The first stage focuses on increasing cash flow, improving asset management, improving debt and fund structure to shore up the company’s liquidity. The second stage focuses on increasing revenue, improving on operational efficiency, enhancing product and service quality and improving on cost management. The third stage is a long term plan to review business transformation, organizational structure and transform organization culture to enhance the company’s competitive position.
THAI’s Business Improvement Plan, to be submitted to the Ministry of Transport and Ministry of Finance in February 2009, will consist of the first and part of the second stage. Once these plans to address liquidity shortage have been approved, the third stage or long term plan will follow.
Press Release issued by M.L. Ajcharaporn Na Songkhla,
Director of Corporate Communications and Public Relations
Monday, 02 February 2009 at 19.30 hrs.