NAKHON RATCHASIMA: After 65 years providing interprovincial bus services, the owner of Cherdchai Tour has decided to throw in the towel.
Suchinda Cherdchai on Monday announced her decision to sell Cherdchai Tour, a unit of Cherdchai Corporation, citing the increase in the price of diesel as just the latest in a series of problems forcing her to give up the business.
The 85-year-old entrepreneur, better known as Jeh Kiew, said Cherdchai Tour had been in the red since 2019 due to fierce pricing competition from low-cost airlines on long-haul routes and the changing behaviour of travellers, who now preferred driving their own vehicles to taking a bus.
The situation was compounded first by Covid-19, which kept people at home, and then the diesel price hike, she added.
Ms Suchinda did not disclose the price tag on Cherdchai Tour.
The company has 200 buses running interprovincial lines under a concession from the Transport Co, a state enterprise under the Transport Ministry. Most services are long-haul routes in the northern and northeastern regions.
Cherdchai Tour also operates medium-distance services between Bangkok and Nakhon Ratchasima, and Bangkok and some eastern destinations.
Ms Suchinda said only 60 buses of the entire fleet were currently on the road, mostly on medium-distance routes, because of the business downturn.
She said her advancing age was also a factor in her deciding to retire from interprovincial bus services and concentrate on the remaining business, which include a bus body factory, authorised Volvo bus dealership and real estate development. (continues below)
Nakhon Ratchasima-based Cherdchai Corporation started in business as the largest bus body building factory before expanding into other areas.
Cherdchai also has a bus-leasing operation. Ms Suchinda did not say whether she wanted to keep it or let it go too.
She also has a prominent role in the industry as president of the Passenger Bus Operators Association.
