Kasikornbank, THAI Wary Of Continued Anti-Government Protests

Published on : Friday, November 29, 2013

Thai AirwaysThailand’s top businesspeople are voicing concerns about the potential damage to regional competitiveness and the all-important tourism industry as anti-government protests drag on.

 

 
Kasikornbank chairman Banthoon Lamsam disapproved the inability of the country’s leaders to do anything, as the Asean Economic Community era looms.

 

 
In short-term it is impact has been the sell-off of stocks and bonds, but in the long term, the country has the risk of being perceived as a country with management problem.

 

He urged those with authority in both the government and the opposition to act on a rational basis and not demonstrate through rallies.

 

 
Thai Airways International for sees the rising political tension as a major risk to its final-quarter financial performance. Although there is no sign yet of cancelled incoming flight reservations, the national carrier is monitoring the situation closely.

 

 
Chokchai Panyayong, senior executive vice president for commercial operations elaborated that the first nine months of the year had been a hard time for all business sectors, including aviation, which has faced high competition, the global economic uncertainty, and a fluctuating foreign-exchange rate; hence it is crucial for them to keep a close watch on these additional risks.

 

 
“The big challenge for us in the final quarter is to reduce operational costs, along with boosting sales in every channel we can … We are putting a big effort into achieve such goals.”

 

 
THAI and its subsidiaries reported a net loss of Bt6.313 billion in the first three quarters of the year against consolidated recorded profit of 5.629 billion baht year on year.

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