snoop1130 Posted April 24, 2020 Share Posted April 24, 2020 Eight Thai airlines seek $770 million government assistance FILE PHOTO: A Thia Air Asia Airbus A320-200 plane prepares for take off at Don Mueang International Airport in Bangkok, Thailand, June 29, 2016. REUTERS/Chaiwat Subprasom BANGKOK (Reuters) - Thailand’s budget and full-service carriers are seeking soft-loans worth 25 billion baht (624.45 million pounds) from the government to support their businesses amid the coronavirus outbreak, an airline executive said on Friday. Commercial air travel has all but stopped as the coronavirus continues to spread and Southeast Asia’s second-largest economy stands to lose 1.3 trillion baht, most of it in the tourism sector. The eight airlines will negotiate the terms of the proposed assistance, which includes soft loans worth 25 billion baht with a 2% interest rate that can be paid off over five years starting in 2021, Thai AirAsia Chairman, (AAV.BK) Tassapon Bijleveld, who has been speaking on behalf of the group, told reporters. The eight airlines included, Bangkok Airways Pcl (BA.BK), Thai AirAsia, Thai AirAsia X, Thai Lion Air, Thai Vietjet Air, Thai Smile, NokScoot and Nok Airlines Pcl (NOK.BK), local media reported. The package will provide liquidity for the airlines, Tassapon said, adding that they were looking for a 6.25 billion baht disbursement, worth a quarter of the credit facility, to begin this month. However, further discussions with the government were required. “We agree with the operational guidelines, but there are still details that require the airlines to do homework,” said Lavaron Sangsnit, Director-General, Fiscal Policy Office. State-owned Airports of Thailand said that it expects passenger traffic to drop 53% for the fiscal year ending in September and had begun offering discounts for airlines. A separate negotiation for the government to provide liquidity support the national carrier, Thai Airways International Pcl (THAI.BK) was also ongoing. The country’s aviation regulator in early April imposed a ban on passenger flights until the end of the month to curb the spread of the virus. The government had already banned the entry of non-resident foreigners in March. Thailand has reported a total of 2,854 cases and 50 deaths from the new coronavirus. -- © Copyright Reuters 2020-04-24 - 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...
surangw Posted April 24, 2020 Share Posted April 24, 2020 less flights = less expenses ? Link to comment Share on other sites More sharing options...
annabel Posted April 25, 2020 Share Posted April 25, 2020 Air Asia is not a Thai airline...? so why are they in the picture here for assistance? 1 Link to comment Share on other sites More sharing options...
Popular Post stupidfarang Posted April 25, 2020 Popular Post Share Posted April 25, 2020 5 minutes ago, annabel said: Air Asia is not a Thai airline...? so why are they in the picture here for assistance? Thai Air Asia is part own by Thai company Asia Aviation and King Power has shares in it as well, the other owner is Air Asia Malaysia. All airlines around the world are in trouble so they will try to get money from whoever they can. Hopefully they will tap the shareholders first 3 Link to comment Share on other sites More sharing options...
BobbyL Posted April 25, 2020 Share Posted April 25, 2020 I imagine these airlines will be last to receive anything after how much THAI will need to be bailed out with. 1 Link to comment Share on other sites More sharing options...
Olmate Posted April 25, 2020 Share Posted April 25, 2020 12 minutes ago, annabel said: Air Asia is not a Thai airline...? so why are they in the picture here for assistance? It’s Thai Air Asia,a joint venture co with Malaysia AA and a Thai Co Link to comment Share on other sites More sharing options...
fvw53 Posted April 25, 2020 Share Posted April 25, 2020 ...and what if (probably) there will be soon a next wave of COVID-19 ? Link to comment Share on other sites More sharing options...
steven100 Posted April 25, 2020 Share Posted April 25, 2020 (edited) and how much is TG asking for .... haz a guess xxx,000,000, and maybe rhymes with pillians ... Edited April 25, 2020 by steven100 Link to comment Share on other sites More sharing options...
ronaldo0 Posted April 25, 2020 Share Posted April 25, 2020 Bangkok airways ?? Not a hope they are in need of money ! Link to comment Share on other sites More sharing options...
tomazbodner Posted April 25, 2020 Share Posted April 25, 2020 Wonder what the paint job on the planes will be after COVID... Air Asia - Now everyone can fly COVID - Now nobody can fly 1 Link to comment Share on other sites More sharing options...
digger70 Posted April 25, 2020 Share Posted April 25, 2020 (edited) 2 hours ago, annabel said: Air Asia is not a Thai airline...? so why are they in the picture here for assistance? I suppose they will get 50% of the share others may get if they Lucky . ???? Thai AirAsia (SET: AAV, Thai: ไทยแอร์เอเชีย) is a joint venture of Malaysian low-fare airline AirAsia (Thai: แอร์เอเชีย) and Thailand's Asia Aviation. It serves AirAsia's regularly scheduled domestic and international flights from Bangkok and other cities in Thailand. Edited April 25, 2020 by digger70 1 Link to comment Share on other sites More sharing options...
Vigilante Posted April 25, 2020 Share Posted April 25, 2020 A couple of 'dry' months and everyone is bankrupt Whatever happened to their cash reserves and such? Probably they played and lost it in the casin..err...stock markets. ..or never bothered to save any for a rainy day. 1 Link to comment Share on other sites More sharing options...
Burma Bill Posted April 25, 2020 Share Posted April 25, 2020 41 minutes ago, digger70 said: I suppose they will get 50% of the share others may get if they Lucky . ???? Thai AirAsia (SET: AAV, Thai: ไทยแอร์เอเชีย) is a joint venture of Malaysian low-fare airline AirAsia (Thai: แอร์เอเชีย) and Thailand's Asia Aviation. It serves AirAsia's regularly scheduled domestic and international flights from Bangkok and other cities in Thailand. Similar situation with Thai Lion Air and Thai Vietjet - Thai subsidiaries of parent companies in Indonesia (Lion Air) and Vietnam (Vietjet) 1 Link to comment Share on other sites More sharing options...
LarryLEB Posted April 25, 2020 Share Posted April 25, 2020 (edited) At least 50% of the Thai population will never be able to afford to fly during their lifetimes (nor would they want or need to). Instead of worrying about the airlines, worry about feeding the poor and those families who now have no jobs. Priorities are already sadly lacking in the Thai "government." Wishful thinking on my part, since the "government" here is really just a kleptocracy in the purest sense of the term. Edited April 25, 2020 by LarryLEB 2 Link to comment Share on other sites More sharing options...
trainman34014 Posted April 25, 2020 Share Posted April 25, 2020 (edited) We all know which Airline will get the bulk, if not all of the money, as we can't have the VIP Airline for the free flying Elite going out of business. After all; Thai Airways have been bailed out by the Taxpayer for so long that it's become the 'old normal' thing to do and now it will become the 'new normal' !! Edited April 25, 2020 by trainman34014 1 Link to comment Share on other sites More sharing options...
Forza2002 Posted April 25, 2020 Share Posted April 25, 2020 2 hours ago, ronaldo0 said: Bangkok airways ?? Not a hope they are in need of money ! The chairman of Bangkok Airways is one of the richest men in Thailand, the company can borrow money from him. If the Govt. does give them money there should be strings attached; such as giving up the monopoly on Samui Airport, it's a bl$$dy rif off flying there. 1 Link to comment Share on other sites More sharing options...
lujanit Posted April 25, 2020 Share Posted April 25, 2020 Let the badly managed airlines go bankrupt. Giving them soft loans is money the government will never get back. The longer this lasts these no-profitable airlines will be back in line for round two. The Australian Government had the right idea with Virgin. We are not giving you one cent, talk to your shareholders. Since the shareholders wouldn’t come to the party Virgin are now in administration. 1 Link to comment Share on other sites More sharing options...
Alex 012 Posted April 25, 2020 Share Posted April 25, 2020 Cool Still some think in 6 months everything is back to normal. Hard choices, bail out airlines but no tourists to use them. Bail out people but no airlines to fly, all bankrupt. Link to comment Share on other sites More sharing options...
Alex 012 Posted April 25, 2020 Share Posted April 25, 2020 Prices will be going up up and up Link to comment Share on other sites More sharing options...
Olmate Posted April 25, 2020 Share Posted April 25, 2020 1 hour ago, lujanit said: Let the badly managed airlines go bankrupt. Giving them soft loans is money the government will never get back. The longer this lasts these no-profitable airlines will be back in line for round two. The Australian Government had the right idea with Virgin. We are not giving you one cent, talk to your shareholders. Since the shareholders wouldn’t come to the party Virgin are now in administration. Guess you don,t recall qantas fares before virgin arrived,Australia will suffer if there is no other option.Not to mention the 16000 staff at Centrelink. Link to comment Share on other sites More sharing options...
lujanit Posted April 25, 2020 Share Posted April 25, 2020 17 minutes ago, Olmate said: Guess you don,t recall qantas fares before virgin arrived,Australia will suffer if there is no other option.Not to mention the 16000 staff at Centrelink. The adminisitrators expect Virgin to survive albeit much leaner focusing on mainly domestic routes. Yes I lived through the Ansett failure and had no choice but to fly Qantas. The point I am making is this government has no business bailing out unprofitable and unprofessionally managed airlines. Especially Thai Airways. 1 Link to comment Share on other sites More sharing options...
annabel Posted April 25, 2020 Share Posted April 25, 2020 Thank you all for the clarification in regards to Air Asia... I thought it was 100% Malaysian Link to comment Share on other sites More sharing options...
torturedsole Posted April 25, 2020 Share Posted April 25, 2020 13 hours ago, Alex 012 said: Prices will be going up up and up Ain't Nothin' Goin' On but the Rent. Link to comment Share on other sites More sharing options...
Soikhaonoiken Posted April 25, 2020 Share Posted April 25, 2020 Good luck with that. Link to comment Share on other sites More sharing options...
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