snoop1130 Posted April 16, 2020 Share Posted April 16, 2020 Thailand expects liquidity support for Thai Airways next week FILE PHOTO: Workers service a Thai Airways Airbus A380-800 aircraft at Bangkok International Suvarnabhumi Airport, Thailand September 3, 2019. Picture taken September 3, 2019. REUTERS/Amr Abdallah Dalsh BANGKOK (Reuters) - The Thai government expects to conclude a capital injection plan for flagship carrier Thai Airways International Pcl (THAI.BK) next week, a government minister said on Thursday. “On the capital needed to support liquidity, it will be clear next week,” Transport Minister Saksayam Chidchob told reporters after a meeting with other agencies on the airline’s rehabilitation plan. He did not give details but in 2010, the government subscribed to newly issued shares to maintain a controlling stakes in the airline. The company’s share price rose more than 14% after his comment. A committee including the finance ministry, which holds a 51% stake in the airline, and the transport ministry was formed to oversee the carrier over the next three to six months, Saksayam said. As a state-owned enterprise, the airline is overseen by multiple government agencies. Southeast Asia’s second-largest economy stands to lose 1.3 trillion baht, nearly all of it in the tourism sector from the new coronavirus, which has infected than 2 million people globally and killed 136,667, according to a Reuters tally. Thailand has a total of 2,672 cases and 46 fatalities. Thailand this week extended a ban on passenger flights until the end of April to limit the spread of the coronavirus. Thai Airways, which suspended its flights last month, was already facing financial trouble, reporting losses since 2017. Losses in 2019 widened to 12.2 billion baht ($385 million) from losses of 11.6 billion baht a year earlier. An official told Reuters earlier that the rehabilitation plan would include reducing the number of plane types in the carrier’s fleet to cut costs. -- © Copyright Reuters 2020-04-16 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
Popular Post YetAnother Posted April 16, 2020 Popular Post Share Posted April 16, 2020 (edited) 8 minutes ago, snoop1130 said: As a state-owned enterprise, the airline is overseen by multiple government agencies. a stellar business model; this airline embodies thai efficiency,effectiveness, and resiliency, or the contra of all the bests of them...guess which Edited April 16, 2020 by YetAnother 3 5 Link to comment Share on other sites More sharing options...
mr mr Posted April 16, 2020 Share Posted April 16, 2020 'cause i'm leaving on a jet plane. don't know if i'll ever tip my wings again. Link to comment Share on other sites More sharing options...
elliss Posted April 16, 2020 Share Posted April 16, 2020 29 minutes ago, mr mr said: 'cause i'm leaving on a jet plane. don't know if i'll ever tip my wings again. Me too, soon. It will not be with thai air , overpriced meals and service , nuff said . Qatar , means quality .. Link to comment Share on other sites More sharing options...
Popular Post Phuketshrew Posted April 16, 2020 Popular Post Share Posted April 16, 2020 No money for the 5,000 baht handouts but keep sinking money into this Albatross. Wouldn't money be better spent feeding the poor? 13 1 3 Link to comment Share on other sites More sharing options...
rbkk Posted April 16, 2020 Share Posted April 16, 2020 2 hours ago, Phuketshrew said: No money for the 5,000 baht handouts but keep sinking money into this Albatross. Wouldn't money be better spent feeding the poor? Wasn't it 400 Billion baht proping up the bond market last week, and now next week Thai Failways. Drop the story now and test the public's backlash. The priorities are not peoples hunger. The nation is on the 'Covid Diet'. 1 Link to comment Share on other sites More sharing options...
Davo369 Posted April 16, 2020 Share Posted April 16, 2020 (edited) Do you think I'll lose my air miles if it goes belly up? Got 1000 air miles.. It's what they give me when I signed up with thai air ???????? Edited April 16, 2020 by Davo369 2 Link to comment Share on other sites More sharing options...
Burma Bill Posted April 17, 2020 Share Posted April 17, 2020 13 hours ago, Phuketshrew said: No money for the 5,000 baht handouts but keep sinking money into this Albatross. Wouldn't money be better spent feeding the poor? Yes indeed, but the "officials" would not get their freebie and cut-price THAI tickets! 1 Link to comment Share on other sites More sharing options...
ncc1701d Posted April 17, 2020 Share Posted April 17, 2020 Is this because of the covid 19 or just the yearly propping up? Link to comment Share on other sites More sharing options...
BobbyL Posted April 17, 2020 Share Posted April 17, 2020 Just imagine their next accounts. They were losing 1 billion / month up until recently. 1 Link to comment Share on other sites More sharing options...
sanuk711 Posted April 17, 2020 Share Posted April 17, 2020 10 hours ago, Davo369 said: Do you think I'll lose my air miles if it goes belly up? Got 1000 air miles.. It doesn't get you far Davo369..........I signed up with AirAsia, just went to Oz and back 6 or 7 hour trip, they sent me a sheet of tear off coupons --always get on/off first, no waiting card last 3 years......5 trips free luggage under plane 20Killo......5 times best seats (the emergency exit rows) 5 times free meals. Quite surprised --as they were the only plan going direct Brisbane anyway. Link to comment Share on other sites More sharing options...
ray666 Posted April 17, 2020 Share Posted April 17, 2020 11 hours ago, Davo369 said: Do you think I'll lose my air miles if it goes belly up? Got 1000 air miles.. It's what they give me when I signed up with thai air ???????? Do you think you can carry then across to another airline ? Muppet Link to comment Share on other sites More sharing options...
sammieuk1 Posted April 17, 2020 Share Posted April 17, 2020 I would like to use a certain type of liquid in the liquidity support to help out???? Link to comment Share on other sites More sharing options...
rbkk Posted April 17, 2020 Share Posted April 17, 2020 Liquidity support: pissing into the wind isn't going to help. 1 Link to comment Share on other sites More sharing options...
Davo369 Posted April 17, 2020 Share Posted April 17, 2020 5 hours ago, ray666 said: Do you think you can carry then across to another airline ? Muppet It was a joke you mug Link to comment Share on other sites More sharing options...
Popular Post DrTuner Posted April 17, 2020 Popular Post Share Posted April 17, 2020 Pour that money into covid testing instead of the Thai black hole. 3 Link to comment Share on other sites More sharing options...
Assurancetourix Posted April 17, 2020 Share Posted April 17, 2020 21 hours ago, snoop1130 said: The Thai government expects to conclude a capital injection plan for flagship carrier Thai Airways International Or how to fill the barrel of Danaides 1 Link to comment Share on other sites More sharing options...
Redline Posted April 17, 2020 Share Posted April 17, 2020 Is it possible to short Thai Airways? Link to comment Share on other sites More sharing options...
DogNo1 Posted April 17, 2020 Share Posted April 17, 2020 Puleeze put the A-380 flight to Narita back on! Link to comment Share on other sites More sharing options...
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