Hong Thai Halts Branch Services To Cut Costs

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2022-10-26 HKT 21:31

Share this story

facebook

  • An announcement on Hong Thai's website says services at its branches had been suspended since August 1.

    An announcement on Hong Thai's website says services at its branches had been suspended since August 1.

Hong Thai Travel said it had suspended all branch services until further notice, to cut costs during what it described as a "dark tunnel with no end in sight".

An announcement on its website said the branches had been closed since August because of the pandemic. But the travel agency explained on Wednesday that it is trying to minimise costs to stay afloat.

The travel agency said the government's decision to replace mandatory hotel quarantine with three days of medical surveillance last month had brought a bit of hope for the tourism sector, but added the move was not enough.

"After more than two years of [the] pandemic, the travel industry seems to have entered a dark tunnel that has no end in sight," Hong Thai said in a statement.

It pointed out that a lack of income has forced many staff to leave the industry, adding that many travellers now prefer to plan their own trips.

The company said it will run at the lowest cost possible until all border restrictions are lifted.

It added that affected employees will be put on furlough.

RECENT NEWS

Manulife Names Wilton Kee As CEO For Hong Kong And Macau

Manulife has appointed Wilton Kee as the new Chief Executive Officer for its Hong Kong and Macau operations, effective ... Read more

Banks Are Not Ready For AI | Singapore AI CxO Roundtable

In this exclusive roundtable jointly hosted by Fintech News Network and Alteryx, senior banking leaders in Singapore sh... Read more

Mizuho Bank To Invest In Rakuten Bank In October

Mizuho Bank will shift its investment into a 5.81% stake in Rakuten Bank, according to Japan Today. The move allows the... Read more

Forthright Subsidiaries Secure SFC Approval For Virtual Asset Services Across 3 Licenses

Forthright Securities and Forthright Capital have received approval from the Securities and Futures Commission (SFC) to... Read more

SFC Names Elisa Ng To Lead Investment Products, Reappoints Lisa Chen

The Securities and Futures Commission (SFC) has appointed former J.P. Morgan Asset Management executive Elisa Ng as its... Read more

Mastercard And JD.com Partner To Expand Cross-Border Payment Options In China

Mastercard and JD.com have entered a strategic partnership to develop cross-border supply chain finance tools for busin... Read more