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Success of Phuket Sandbox
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Thai Airways selling assets to raise cash
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BANGKOK, Thailand – For once, Thai authorities will have to do more than just try to fix its image without really solving any problems.
BANGKOK, Thailand – For once, Thai authorities will have to do more than just try to fix its image without really solving any problems. For many years, Thailand’s government has been warned about regular shortcomings in the way Thailand Civil Aviation (DCA) looks at safety issues.
A year ago, the International Civil Aviation Organization (ICAO) addressed a warning to the Thai DCA to rapidly find solutions to redress the lack of resources to the agency. In March, the DCA’s plan for a turn-around over the next two years was rejected by the ICAO which asked for “immediate corrective measures” instead. The international organization mentioned “significant safety concerns” over DCA’s ability to fix the rules and have them respected.
Thai Airways selling assets to raise cash
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published : 4 Aug 2021 at 09:00
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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.
Thai Airways boosts its presence in Europe from November
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