A look at the week
By Jordan Chong
There was grim news on the jobs front this week with reports Thai Airways International (THAI) would cut its workforce by half. THAI’s turnaround plan, which includes a 50 billion baht (US$1.6 billion) capital injection, a fleet reduction and shrinking of the route network, will be submitted to a vote of creditors in May.
In Australia, Qantas domestic and international chief executive, Andrew David, raised the possibility the airline group could make more staff redundant above the 8,500 jobs already earmarked to go if operations continue to be impacted by snap domestic border closures and ongoing international travel restrictions.
An indication of the state of the market was highlighted by a Singapore Airlines' (SIA) announcement this week that passenger capacity across the airline group would reach 25% of January 2020 levels by May 2021. Read More »