Nearly 6,000 THAI staff to be laid off

[Aussiepeter]

With you Ranshoko - I was also a Platinum Member and was one of the first to join their FF programme over thirty years ago. Service ? Non-existent. Trying to use their FF points was an exercise in futility. Horrid, old, grumpy flight crew, especially in Bus Class. Left them after two extremely bad experiences with very suspect pilots (skills-wise). I now use Singapore Air pretty much exclusively unless travelling to the Middle East. They are brilliant ! Big suitcases ? We had a neighbour who used to bring in loads of duty-free stuff to sell on - my wife usually got first choice. The good news - my missus bought a nice TG silver-plate cutlery set (ex TG First Class) very cheaply in the carpark stalls at Big C and I got a whole roll of those nice little pink cotton hand towels with the Thai logo for 50 baht at the same place. Kept them in our vehicle for use after our daughter was born. Not surprised TG are gone. Be more surprised to see them come back. 

[Fex Bluse]

43 minutes ago, ThailandRyan said:

You mean possession is not 9/10th's of the law.  How will Airbus take them back if the airport's remains closed, under cover of darkness hire the airplane repo companies and pay them a tidy sum for risking their lives....Not sure what will happen, but this country now has some serious egg on it's face....

The bankruptcy court will allow authorities to seize other Thai assets. Also, they may be banned from future purchase of aircraft. They cannot hide. 

[Creasy]

Nepotism and total ineptitude has driven a once good airline into the ground. But you'll never get the knobs at the top to admit it.

[crobe]

5 minutes ago, Fex Bluse said:

The bankruptcy court will allow authorities to seize other Thai assets. Also, they may be banned from future purchase of aircraft. They cannot hide. 

It is difficult to know exactly what will happen under the rehabilitation plan, but as far as I am aware the reason to rehabilitate under the bankruptcy court is exactly to afford them protection from creditors - i.e. creditors cannot seize their assets while the process is ongoing.

The fact that they are doing this inside Thailand rather than also filing for chapter 11 etc. leaves it open to interpretation as to whether creditors could get a local court order and seize Thai assets outside of Thailand

It would be wise not to pay for a trip from Paris to Bangkok on Thai as the plane may not take off.

In all seriousness though, one of the first settlements they will try to achieve is with the aircraft easing in order that the company can still fly once restrictions are eased and some cashflow can come in - but of course this would be a sensible thing to do.

[PETERTHEEATER]

1 hour ago, ThailandRyan said:

Do you not remember the 3 female attendants who were nailed by customs not that long ago....

Er, I trust that is not to be taken in a slang sense......????

[Fex Bluse]

4 minutes ago, crobe said:

It is difficult to know exactly what will happen under the rehabilitation plan, but as far as I am aware the reason to rehabilitate under the bankruptcy court is exactly to afford them protection from creditors - i.e. creditors cannot seize their assets while the process is ongoing.

The fact that they are doing this inside Thailand rather than also filing for chapter 11 etc. leaves it open to interpretation as to whether creditors could get a local court order and seize Thai assets outside of Thailand

It would be wise not to pay for a trip from Paris to Bangkok on Thai as the plane may not take off.

In all seriousness though, one of the first settlements they will try to achieve is with the aircraft easing in order that the company can still fly once restrictions are eased and some cashflow can come in - but of course this would be a sensible thing to do.

You are absolutely right. But, if Thai (or the government) think they can disregard demands of the to be agreed plan, what I'm saying is that there will be consequences. 

 

They cannot simply shun responsibility like they have in their dealings with other issues, like Australia mining companies and Hong Kong property and development conglomerates. 

 

If they play their games with these creditors after agreeing to a rehab plan, their assets overseas will be seized. 

[nodomino]

What will happen to people who have retired and receive a pension?

[boriga]

A crude benchmark to consider is the staff to airplane ratios, albeit open to manipulation through outsourcing etc.

 

That said Thai have over 22,000 staff and 74 planes, roughly 300 to I. Most European airlines such as BA or Lufthansa, run on half that 130-150 to 1, some such as Swiss or Air NZ run with less than 100 to 1.

 

By any standards, the head count loss was well overdue and an indicator of low productivity.

[ThailandRyan]

1 hour ago, scorecard said:

So what's your guess?

Just one of many articles you can locate regarding the smuggling of goods.

 

https://www.asiaone.com/asia/thai-airways-cracks-down-smuggling-its-flight-attendants

 

https://www.paddleyourownkanoo.com/2019/09/08/thai-airways-flight-attendant-caught-trying-to-smuggle-gucci-belts-from-italy-under-her-uniform/

[miamiman123]

Oh oh, what are those generals who fly gonna do now?

get out your credit card hier heneral! 

[worgeordie]

2 hours ago, webfact said:

Ministry of Finance to sell its majority stake in the airline.

 

Who is going to be buying ......

regards Worgeordie

[Traubert]

2 hours ago, steven100 said:

I don't think the international creditors will be very happy

Creditors, either international or domestic, seldom are.

 

Employees too.

[lujanit]

If it comes about TG 2.0 will have a very difficult time trying to operate.  Every company and airport will want payment up front.  Absolutely no credit will be afforded to them.

[crobe]

2 minutes ago, worgeordie said:

Who is going to be buying ......

regards Worgeordie

Vayapuk - local Thailand pension fund

You can tell who they are, they are the ones with the CEO who has his arm twisted up his back

[BobbyL]

Sad for the lower level staff that will be losing their jobs. I imagine none of the umpteen board members THAI employ will be losing their salaries for the time being. 

[TallGuyJohninBKK]

1 hour ago, RichardColeman said:

They do realise that by writing off any money owed to Airbus could mean they lose 30 planes. right ? 

 

What do they need planes for??? 

 

You must think they're actually a passenger carrying airline or something, instead of an employment and perks money pit for government connected cronies and their children.

 

[crazykopite]

Looming recession,Thai airways going bankrupt , mass unemployment yet the Thai baht is as strong as ever WHY ?  

[Percy P]

2 hours ago, Denim said:

Typo.

 

Should read :

 

Thai will stop repaying all debt and start accumulating more from scratch.

 

New Thai Airway will rise like a Phoenix from the ashes but will ultimately meet the same fate as Icarus.

 

 

 

 

Sure, What about all the companies Thai Airways owe money to or should one day Thai Government as they own the airline. Now do you think those companies will start trading with TA  when it restarts up again.

[pineapple01]

Shame those 6000 couldn't have told the World about the Toads who caused it all.

[falang1969]

I guess I can kiss goodbye to the alternative flight they have kept promising me?

Good way to get out of refunding people!

[grego49]

Hope they start at the top,,,,

[shinawhat]

Thai airways was banned from flying to North America a few years ago because of massive safety violations. . The FAA said they would send reps to Thailand to help the airline meet the minimum safety requirements in order to resume flights to America. The airline declined citing it would be too costly.....that should tell everyone this is an accident waiting to happen. With management like that, is it a wonder they are in the position they find themselves in now? Not to mention, on virtually every flight to Europe, they are more expensive.......why? 

[Percy P]

24 minutes ago, crobe said:

Vayapuk - local Thailand pension fund

You can tell who they are, they are the ones with the CEO who has his arm twisted up his back

Very sad affair, but ok for the employees of they can restart with the new company.

[Percy P]

15 minutes ago, pineapple01 said:

Shame those 6000 couldn't have told the World about the Toads who caused it all.

The government are in charge of Than Airways with its majority shareholding.

[Fex Bluse]

26 minutes ago, BobbyL said:

Sad for the lower level staff that will be losing their jobs. I imagine none of the umpteen board members THAI employ will be losing their salaries for the time being. 

This type of idea is common. However, we might feel differently if we consider that given the opportunity, almost every single lower level staff would likely be corrupt in the exact same way. 

 

Our Western thinking - the people against the establishment - makes us believe these romantic ideas that the wealthy are disproportionately bad. 

 

The underlying culture here is consistent among rich and poor. The poor aspire to be exactly like the rich. 

 

I feel sorry for Zero of them

[spermwhale]

2 hours ago, ezzra said:

Hopefully some of them will of the indifferent, aloof and oh' not so young anymore cabin crew... and why on earth are they always lugging these huge suitcases even on a single overnight trip i could never understand...

My ex wife was a flight attendant with THAI, flying regular routes to various cities in Germany. You are right. They had huge suitcases for even a two day stay, but one thing is that they keep four uniforms in there. Two are normal on duty uniforms, and the other two the Thai traditional dress uniform. (one for each leg of the flight). 

Walking around clothes for two days while waiting for the return, but she had plenty of space, which she would fill up with goodies for me and the kids from the various countries. 

 

[pineapple01]

Good i theory but i prefer new staff from a success not a failed disaster.

[norbra]

1 hour ago, Orton Rd said:

No it's not that is why it's where it is now

My final flight was decided by no foot room under seat in front (777)and could not get a coffee during an o'night flight and they had just cancelled the majority of flyer points

[wensiensheng]

What third party is going to buy the Finance Ministry’s majority stake in an airline subject to constant political interference with how the business is run? Even if sold for a nominal 1baht the potential for future losses and requirement for more debt, surely rules out a non that government bidder?

 

i guess you never know.

[crobe]

Just now, wensiensheng said:

What third party is going to buy the Finance Ministry’s majority stake in an airline subject to constant political interference with how the business is run? Even if sold for a nominal 1baht the potential for future losses and requirement for more debt, surely rules out a non that government bidder?

 

i guess you never know.

They are just reducing the government stake to 48% - 3% is being sold to a local pension fund - Vayapuk - who already have a substantial shareholding