Thai Airways International has set financial targets for next year and is hoping that improvements to its Boeing 747s will help it capture market share.

The airline board has approved a plan to refurbish 12 of the Star Alliance carrier's Boeing 747s and this involves refurbishing the seats and providing inflight entertainment systems, says Thai. These aircraft are mostly used on routes to Europe.

Thai wants to be one of the top three carriers in Asia, it says.

The national carrier has posted losses in recent times but is now embarking on a financial turnaround plan led by its new president Piyasvasti Amranand.

For 2010, the goal is to achieve 21% increase in revenues to 193 billion baht ($5.8 billion), a 10.7% rise in ASKs and a 13.2% increase in RPKs, it says.

Overall the airline aims to have a profit - before tax, interest and foreign exchange losses/gains - of 4.3 billion baht for 2010, it adds.

Thai posted a net loss of 21 billion baht in 2008.

Source: Air Transport Intelligence news