The cabinet resolved on May 19 to restructure loss-ridden Thai Airways International Plc under the supervision of Bankruptcy Court instead of injecting 54 billion baht in taxpayers' money into it as requested by the flagship carrier.
Thai Airways (THAI) is expected to earn at least 130 billion baht in revenue this year after its net profit in the first quarter reached 12.5 billion baht.
The aviation business was plunged into an unimaginable depth of despair during the more than two years of the Covid-19 pandemic, which has also set a new rule for the industry: shape up or ship out.
Thai Airways International plans to add at least nine aircraft to its operational fleet in the first quarter of 2023 and will increase its flights to Europe and Japan.
Thai Airways International Plc said yesterday that Chai Eamsiri would become the company's chief executive officer from Feb 1, as it proceeds with its pandemic-driven restructuring plan.
Thai Airways International requires only half the money which it initially estimated would be needed for recapitalisation, given its consistently positive performance.
Thai Airways International says 60% of the aircraft in its pre-pandemic fleet have now resumed service following a surge in the number of people travelling.
Thai Airways International (THAI) is expecting its revised business reorganisation plan to be accepted by the Central Bankruptcy Court in the first or second week of October.
Troubled national carrier Thai Airways International (THAI) is aiming to make a comeback and reach a top 10 global ranking for airlines.
Thai Airways International receives a boost after its creditors approve its revised business rehabilitation plan.
Thai Airways International is aiming to resume its position as one of the world's top ten airlines after the completion of its rehabilitation process.
