Thai Airways takes steps to manage forex risk
National carrier Thai Airways International plans to set up a special working committee to manage foreign-exchange risks after the baht surged this week.
With 70 per cent of its sales coming from foreign markets, and revenue in 50 foreign currencies, it has become essential for the listed company to monitor the baht's movements more closely, especially against major currencies including the pound sterling, yen, euro and US dollar.
THAI president Sorajak Kasemsuvan acknowledged that recent foreign-exchange volatility had an impact on the company's operations, but said it was too early to estimate the extent. At a meeting Friday, board members raised concern over the issue and asked executives to take a closer look at it.