Bangkok - Thai Airways International PCL has offered early retirement to 400 to 500 staff after notching up a second-quarter net loss of 9.3 billion baht (276.8 million dollars), the national carrier said Thursday.

President Apinan Sumanaseni said the airline's executive board had approved a budget of 700 million baht to encourage employees to opt for early retirement as part of its cost-cutting efforts this year, the Manager newspaper's website said.

On Wednesday, Thai Airways announced its second-quarter results, which were its worst performance in 10 years. The loss was attributed mainly to higher fuel prices.

Besides the staff cuts, Thai Airways also has announced the cancellation of several unprofitable routes, such as Bangkok-New York and Bangkok-Oakland.

The airline, however, has boosted its daily flights to Sydney and Melbourne to accommodate rising tourist traffic from Australia to Thailand. (dpa)