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Loss-making Thai flag carrier aims for $5bn fleet renewal

Government optimistic at plan, while investors remain unconvinced

For the first half of 2019, Thai Airways reported a net loss of 6.43 billion baht, 17 times lower than the 381 million baht loss in the same period a year earlier. (Photo by Kosaku Mimura)

BANGKOK -- Thailand's national flag carrier is betting that a 156 billion baht ($5 billion) fleet renewal investment can turn around its loss-making airline business.

"156 billion baht will be invested on 38 airplanes," said Thai Airways International President Sumeth Damrongchaitham on Tuesday at a news conference. He did not detail how many of the new aircraft would be purchased or leased.

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