Thai Airways International Plc (THAI) is cutting domestic airfare in between 45-55 percent from market price while dipping ticket price for international routes up to 50 percent, aims to stimulate traveling in first quarter this year.

"This is the first time the airline offers such extra lower airfare," Chris Chantalitanon, director area for Thailand, Indochina and Myanmar , said Wednesday.

This drastic measure is to counter the drop of passengers due to the global economic slowdown as well as the negative effect to Thai tourism caused by the closure of the Bangkok Airports in December.

The price cut is welcomed by the Thai tourism industry, especially by the key players of the leasure and medical tourism.