2011 was not a good year for Thai Airways International (TG). Management tried to remain upbeat, pointing out that airlines have learned to live with and adapt to adverse circumstances such as the tsunami in Japan and the spike in oil prices, but the floods in Thailand in October decimated hopes of concluding the year on a positive note. Thailand’s worst flooding in more than five decades virtually halted all traffic, passengers and freight, to and from the country for several ...

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