Thai Airways selling assets to raise cash

Thai Airways selling assets to raise cash

Thai Airways International (THAI) is selling 10 properties and buildings around the country in a bid to raise funds to rehabilitate its ailing business, according to an airline source.

The source said the carrier is looking to offload its largest batch yet of assets to boost cash flow as the company is seeking to restructure 245 billion baht of debt through payment extensions, interest waivers and debt-to-equity conversions.

The airline has also introduced leave-without-pay schemes and pay cuts for staff.

The 10 properties and buildings slated for sale are scattered in Bangkok and the provinces including Khon Kaen, Chiang Mai, Chiang Rai, Phuket and Phitsanulok.

Buildings to be put on the market are those that served as airline offices.

They include a 4-storey building on Silom Road, an eight-storey office building with six-floor car park building on Lan Luang Road, and a two-storey building called "Rak Khun Thao Fa" on land at Don Mueang airport.

Do you like the content of this article?
COMMENT (38)

Alec Baldwin at centre of on-set shooting tragedy

Hollywood star Alec Baldwin was the focus on Friday of investigations into a shocking and deadly on-set tragedy, after the actor fired a prop gun that killed a cinematographer and wounded the director of a Western he was shooting in New Mexico.

22 Oct 2021

Nine held after major drug busts in Chiang Rai

Police have arrested nine members of a major drug trafficking gang in two cases and seized a total of 2 million speed pills, 67 kilogrammes of crystal methamphetamine and 7kg of heroin in Chiang Rai

22 Oct 2021

K-pop stars BTS leaving Sony for Universal

The K-pop boy band BTS is ending its distribution deal with Sony Music’s Columbia Records and will instead partner with Universal Music Group.

22 Oct 2021