Photo credit lkarasaw on flickr
Thai Airways has today announced that it has cut around 240 executive positions within the company as it continues its restructure process.
This follows the announcement last week that it was laying off 395 pilots and grounding 3 types of aircraft from their fleet.
The moves will mean that Thai has reduced its executive workforce to around 500, streamlining its management structure from eight to five levels, and the number of pilots to just over 900.
The airline is working towards a 2nd March deadline for the submission of its debt restructuring plan which is key in the survival hopes of the national flag carrier. Speculation has increased in recent days that Thai may be struggling to continue as an airline and that only a few divisions may survive the bankruptcy proceedings.
As at 30th September 2020 Thai’s liabilities stood at 338.9 billion baht (approx £8 billion / US$11.3 billion) with assets of 298.9 billion baht (approx £6.9 billion / US$9.67 billion).
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