Thai Airways expects to return to a pre-tax operating profit this year thanks to cost-cutting under a new restructuring plan, its chairman said on Wednesday.

The national carrier planned to reduce expenses by 10 percent in 2009-2011, Surachai Tansitpong told reporters.

The airline expected to put the restructuring and a funding plan to the Finance Ministry by the end of March for its approval, Surachai said.

Last month the airline said it was seeking nearly USD$1 billion in loans from financial institutions -- THB19 billion baht (USD$543 million) for working capital and THB15 billion for refinancing short-term loans.

The majority state-owned carrier was hit last year by a surge in oil prices and the closure of Bangkok airports for a week by political protesters.

It reported a net loss of THB6.61 billion in the first nine months.

Thai Air shares closed down 0.64 percent at 7.75 baht on Wednesday, when the main Thai stock index rose 0.21 percent.