State not obliged to save THAI
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published : 17 May 2021 at 06:44 Chansin: Finding loan no problem
There is no commitment to a state bailout in Thai Airways International Plc s (THAI) debt rehabilitation plan, according to a source close to people conducting the process.
In an online meeting between THAI s creditors and business rehabilitation planners last week, Chansin Treenuchagron, the airline s acting president and one of the planners, told the meeting that in the plan, the government is not obliged to bail out the airline. Nor it is required to act as a loan guarantor as it tries to get back on its feet.
PM denies B50bn Thai Airways recap plan
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Prayut says govt won t get involved
published : 15 May 2021 at 04:00 Thai Airways International planes are seen at Suvarnabhumi airport. (Bangkok Post file photo)
Prime Minister Prayut Chan-o-cha on Friday denied reports that the government, through the Finance Ministry, would allocate 50 billion baht to recapitalise financially struggling Thai Airways International Plc (THAI).
He was responding to reports the carrier would again become a state enterprise through the re-acquisition of the ministry s majority stake in the airline.
The prime minister said THAI is currently moving through the debt rehabilitation process. I have decided that the government will not involve itself in the work of the rehabilitation plan administrators.
If Thai Airways International Plc (THAI) were to go under on decision day, which is Wednesday, creditors would only be paid 12.9% of what is owed to them, a source at the airline warned.
Thai Airways creditors delay vote on debt restructuring plan
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published : 12 May 2021 at 15:13
updated: 12 May 2021 at 17:33
34 A Thai Airways aircraft is seen taking off past the tails of two other Thai Airways planes at Bangkok s Suvarnabhumi international aiport on Nov 24, 2014. (AFP file photo)
Thai Airways International Plc delayed a vote on its restructuring plan by a week after some creditors pushed for changes and sought time to study some last-minute tweaks unveiled by the administrator.
The creditors will now meet again on May 19 after 20 of them proposed postponing the vote, Thai Airways said in a statement. At Wednesday’s meeting held by video conference, some debtholders sought more clarity about details of the restructuring plan which included some changes, the carrier said.
Thai Airways International planes at Suvarnabhumi Airport. (Bangkok Post file photo)
Kla Party leader Korn Chatikavanij has warned the government to keep politics out of Thai Airways International Plc s (THAI) debt-rehabilitation and not to seek to revert the airline to its former state enterprise status.
On Facebook, the former finance minister said he was disappointed with the options the Finance Ministry has floated for easing the airline s financial predicament. One option was to inject 25 billion baht to recapitalise the carrier as well as guarantee new loans worth another 25 billion baht.
The second option was to guarantee a loan worth 50 billion baht if the government opted out of the recapitalisation.