I'm not so sure things are as rosy as this guy makes out ......
August 9, 2022, 12:23 PM GMT+7
( Bloomberg News )
Thai Air’s $2.3 Billion Capital-Raising Plan Led by Government
State-owned banks will provide new loans, capital infusion
Government will keep at least 40% stake in Thai Airways.
Thai Airways International Pcl will receive key financial support from the government for its 80 billion baht ($2.3 billion) capital raising and debt-to-equity swap plan aimed at helping the state-controlled carrier come out of its pandemic-induced bankruptcy.
State-owned banks will lead in funding new loans, converting debt and injecting equity capital into Thai Air.
The ministry and other agencies will continue to maintain a combined stake of at least 40%, but the proportion won’t exceed 50% to induce the carrier to stay competitive, he added.
source : https://www.bloomberg.com/news/articles/2022-08-09/thai-air-s-2-3-billion-capital-raising-plan-led-by-government