The Finance Ministry plans to inject an additional 12 billion baht into Thai Airways International (THAI) Plc by October this year, hoping the national carrier can be relisted on the stock exchange by the middle of 2025 at the latest.
According to Tibordee Wattanakul, director-general of the State Enterprise Policy Office (Sepo) under the Finance Ministry, the company's performance has significantly improved thanks to enhanced operational efficiency and reduced expenses, coupled with the strengthening of the baht against the US dollar, leading to profitability.
The plan to relist on the Stock Exchange of Thailand (SET) is proceeding as scheduled, he said.
The plan for the capital injection and relisting on the stock market requires approval from policymakers, which is expected near the end of the year, said Mr Tibordee.
According to the business rehabilitation and relisting plan, THAI shareholders must increase their capital.
The Finance Ministry, as one of the major shareholders, prepared a plan to increase the airline's capital by 12 billion baht to maintain its shareholding proportion.
After the capital increase, the ministry's shareholding would total roughly 40%, ensuring that THAI does not revert to being a state enterprise.
Regarding the source of funds for this capital increase, Mr Tibordee said it will initially come from two sources: the 2025 fiscal budget and the Vayupak Fund.
In related news, Sepo is expediting efforts to increase revenue and reduce expenses to improve the performance of four other state enterprises: State Railway of Thailand (SRT), Transport Co, National Telecom Plc, and MCOT Plc.
The office is also asking the respective supervising ministries to assist in further rehabilitating their businesses.
