By Cirium2021-05-12T03:22:00+01:00
Two major Thai airlines, Thai Airways International and Nok Air, are at different stages of putting together business reorganisation plans outlining how they will restructure their businesses under court protection and emerge stronger from the Covid-19 pandemic.
But a recent surge in virus cases in the Kingdom looks likely to scupper the country’s plans to reopen to tourists this year – something airlines had been banking on to lead them out of the downturn.
Moreover, a huge viral surge in India has put paid to hopes of being able to accept visitors from that key tourism market, while China’s conservative approach to reopening borders could largely seal off a second major tourism market for many months to come.
Recovery of global aviation market hinges on cooperative success 09:00 | 07/05/2021
Passenger traffic at Vietnamese airlines is expected to rebound faster than in other countries of Southeast Asia, due to the countryâs low numbers of pandemic cases. But airlinesâ recovery and success can only be achieved when all countries succeed in tackling the coronavirus.
By John Frangos - Partner, Tilleke & Gibbins
The COVID-19 pandemic has caused the aviation industry to face arguably the most challenging time in its history. Airlines across the world, including in Southeast Asia, have been deeply affected by the prolonged and universal halt to international air travel.
By Cirium2021-03-02T06:17:00+00:00
Thai Airways International’s rehabilitation planners are expected to submit a plan on 2 March to Thailand’s Central Bankruptcy Court outlining how they propose the airline should be restructured.
Thai’s acting president Chansin Treenuchagron is expected to hold a briefing at 14:00 (Bangkok time) on 2 March. Cirium has contacted Thai Airways for details.
Source: Shutterstock
Thai Airways fleet at Bangkok airport May 2020
The beleaguered flag carrier’s planners – a group of six people and EY Corporate Advisory Services – had originally been due to submit this plan in January, but the airline opted to apply for two one-month extensions, pushing the deadline first to February and then later to today.
Thai Airways acting president Chansin Treenuchagron has offered reassurance that the carrier is working “diligently” to ensure its rehabilitation plan will be submitted by its “specified timeframe”.
Thai Airways International has been granted a one-month extension of the deadline to submit its rehabilitation plan which will outline how its business will be restructured.