Reporting by Chayut Setboonsarng and Panarat Thepgumpanat; Editing by Kirsten DonovanFILE PHOTO: Thai Airways airplanes park at the tarmac of the Suvarnabhumi airport in Bangkok, as Thailand will temporarily ban all passenger flights from landing in the country to curb the outbreak of the coronavirus disease (COVID-19), Thailand, April 4, 2020.
The airline, which booked losses of 12.04 billion baht in 2019, last week asked the Stock Exchange of Thailand to allow it to delay submission of its January-March financial statements until August, citing difficulty in gathering information due to the pandemic. While some countries have not accepted the automatic stay, but airplane lessors have been supportive due to the pandemic, Thai Airways Acting President Chansin Treenuchagron told reporters in a separate briefing. “Oppose the use of taxpayer money to rescue Thai Airways endlessly, especially without a clear rehabilitation plan,” student activist, Tanawat Wongchai, posted on Twitter. yikes. Thai Airways would restructure debt worth around 245 billion baht ($7.9 billion). “The (Thai Airways) plan needs to be clear because the money is from public taxes … especially when the country needs to use budget for managing the virus and assisting the public,” the transport minister said.
BANGKOK (Reuters) - Loss-making Thai Airways International Pcl (Transport Minister Saksayam Chidchob set the deadline amid rising public sentiment against a state-backed loan for the national carrier, which was already facing financial trouble before the coronavirus outbreak, having reported losses since 2017.
Editing by David Holmes we all know TG is a huge failure, it seems debt & failure runs in the airline industry
Thai Airways must submit rehabilitation plan by end-May: official FILE PHOTO: Thai Airways airplanes park at the tarmac of the Suvarnabhumi airport in Bangkok, as Thailand will temporarily ban all passenger flights from landing in the country to curb the outbreak of the coronavirus disease (COVID-19), Thailand, April 4, 2020. But use the money to rescue Thai Airways when people are suffering, what do Thai people get?” Tanawat said in a post, which was retweeted 8,100 times. Truly scandalous how much this company is funded / rescued by tax payers. The airline, which booked losses of 12.04 billion baht in 2019, last week asked the Stock Exchange of Thailand to allow it to delay submission of its January-March financial statements until August, citing difficulty in gathering information due to the pandemic.
And the one before that.
Thailand, which has reported a total of 3,017 cases of the coronavirus and 56 deaths, faces the loss of 10 million jobs as the outbreak drags on, with many people still waiting for government aid. Making staff do their jobs properly, and treat paying customers with respect.
Laughable and the poor Thais fund this monstrosity. “If (the plan) is not finished in May, then we cannot proceed,” Saksayam told reporters, adding that the proposal must address all of the 23 risk areas highlighted by the airline, and present a clear strategy for handling the new coronavirus, growing revenue, and managing expenses. The carrier is seeking a 58.1 billion baht ($1.81 billion)loan, guaranteed by the Ministry of Finance, according to preliminary plans seen by Reuters and approved at the end of April by a state-enterprise committee, chaired by Prime Minister Prayuth Chan-ocha. Prime Minister Prayut Chan-ocha’s meeting on Wednesday could result in a bailout of about 50-70 billion baht and the loss of 20 international routes for Thai Airways International (THAI).
VAT. “If (the plan) is not finished in May, then we cannot proceed,” Saksayam told reporters, adding that the proposal must address all of the 23 risk areas highlighted by the airline, and present a clear strategy for handling the new coronavirus, growing revenue, and managing expenses. Cookies are small text files that are placed on your computer by websites that you visit. “Oppose the use of taxpayer money to rescue Thai Airways endlessly, especially without a clear rehabilitation plan,” student activist, Tanawat Wongchai, posted on Twitter.
It's totally not appropriate that these taxes support a hi-so social club.Virgin Australia airlines LLC servicing Australia is now in voluntary administration.The company was asking for A$1.4 Billion ( 28 billion baht ) from the government, Thailand, which has reported a total of 3,017 cases of the coronavirus and 56 deaths, faces the loss of 10 million jobs as the outbreak drags on, with many people still waiting for government aid. The rehabilitation plan will reportedly involve a loan worth 40-50 billion baht or the Finance Minister may act as the sponsor or issuer for a bond. Latest Thai Airways rehab plan (5th plan in last four years?)
Thai Airways is now coordinating with the Transport Ministry’s policy office on the rehabilitation plan, Saksayam said without elaborating.
Thailand, which has reported a total of 3,017 cases of the coronavirus and 56 deaths, faces the loss of 10 million jobs as the outbreak drags on, with many people still waiting for government aid.
Truly scandalous how much this company is funded / rescued by tax payers. BANGKOK, July 31 (Reuters) - Thai Airways International Pcl expects the bankruptcy court to allow for a rehabilitation process after a hearing next month on its restructuring proposals, its legal advisor told a shareholders meeting on Friday. REUTERS/Athit Perawongmetha The airline, which booked losses of 12.04 billion baht in 2019, last week asked the Stock Exchange of Thailand to allow it to delay submission of its January-March financial statements until August, citing difficulty in gathering information due to the pandemic. should be the last one it ever needs - Chapter 11.
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