should i cut up my silver orchid card .... 

1 hour ago, fresher said:

This is a serious point. I hope they choose the right 6,000 people to shed. (by right I mean best for the business)

The airline is going bankrupt and you expect them to choose the right 6,000 people?

 

Come on.

11 minutes ago, steven100 said:

yes

I`ve got one too, not hopeful, probably lose my money, will just have to wait and see. 

1 minute ago, bwpage3 said:

The airline is going bankrupt and you expect them to choose the right 6,000 people?

 

Come on.

Well getting rid of people that keep the planes airworthy wouldn`t be the greatest bit of thinking would it?

24 minutes ago, natway09 said:

Will somebody please tell me who the International Receiver & Accountancy firm is ?

You cannot put yourself into receivership or bankruptcy & than administer it yourself ?

That is ridiculous, as obviously they have no idea how to run an airline

You can if you are owned by the Thai Government.

5 hours ago, Dumbastheycome said:

If  they start redundancies  from the top down it  might help !

 

yeah, i highly doubt layoffs will start at the top of the salary scale.

1 hour ago, OJAS said:

Not sure what you're getting at, but this is the cancellation email they sent me nearly a couple of months ago:-

 

From: <[email protected]>
Date: Wed, 25 Mar 2020 at 10:41
Subject: Flight Cancellation TG930/May 21, 2020                                                                                                                            

..    
FLIGHT CANCELLATION TG930/MAY 21, 2020
..    
Booking reference:        TVNDKU    
..    
Dear Valued Customer,
..    
THAI regrets to inform you that TG930/May 21, 2020/ Bangkok (BKK) - Paris (CDG) has been cancelled. 

        ..
        ..
        Previous Flight 
..    
________________________________________
From        To        Departure        Arrival        Flight        Booking class    
Bangkok BKK Suvarnabhumi Intl        Paris PAR Charles De Gaulle        00:05        07:10        TG930        W    
                May 21, 2020        May 21, 2020    
..    
We do apologize for any inconvenience caused. For further information or any assistance, please contact the travel agent where you purchased the ticket, or THAI office nearby, if you are booked directly with THAI or via THAI’s website.

Thank you for flying THAI. 

Yours Sincerely, 

Thai Airways International Public Company Limited.
 
 

 

 

I got the same e-mail and THAI owes me 60K baht, which they at the time promised to refund in 5 months time.

Let me know if you ever see dime from them.

4 minutes ago, ukdave51 said:

I`ve got one too, not hopeful, probably lose my money, will just have to wait and see. 

sorry .... u can forget about that.

1 minute ago, ExpatOilWorker said:

I got the same e-mail and THAI owes me 60K baht, which they at the time promised to refund in 5 months time.

Let me know if you ever see dime from them.

correct .... i would just forget about it .... it's gone imo.

51 minutes ago, steven100 said:

yes

If operations are to continue as indicated for possibly 12 months, I cannot see how the flight cancellation should not be honoured?

It's not wipe the slate clean from today. 

Unless you are privvy to more information?

 

All I got was attached..

But an indication that flights were credit until December 2020 and if not used it would role over a further 12 months.

My flight was rebooked by Thai airways to fit into the last flight to Thailand on March 30th.

They pulled out early

Leaving me stranded in Australia.

 

Edited May 21, 20206 yr by dallen52

This report does not make sense.You cannot sell your stake and cancel dept.First there is no stake left to sell.And the lenders ie airbus have a claim on the aircraft.Does not say who the depts are owed to.?

3 minutes ago, dallen52 said:

If operations are to continue as indicated for possibly 12 months, I cannot see how the flight cancellation should not be honoured?

It's not wipe the slate clean from today. 

Unless you are privvy to more information?

THAI will stop repaying all debt and start from scratch.

This would indicate cancellation will not be honored .....  imo 

5 minutes ago, dallen52 said:

If operations are to continue as indicated for possibly 12 months, I cannot see how the flight cancellation should not be honoured?

It's not wipe the slate clean from today. 

Unless you are privvy to more information?

I'll ask you this ......  they owe billions of baht to creditors,  they have declared bankruptcy, they have sacked 6000 employees ......  and you want your air ticket ....  lol

Thailand will never ever be able to lease another aircraft from Boeing or Airbus or any other manufacturer world wide.

They will only be able to buy up front.   imo  

It is no secret Thai Airlines has been in financial distress for years with CEO's rotating in and out.

 

Corruption plays a huge part and the executives thinking the airlines is a corporate piggy bank.

 

The problem with Thai Airways is the same you see in politicians. The execs are there to line their pockets with as much cash as they can before they get sacked. Not professionally run an airlines.

 

My company was asked to bid on a Thai Airways Upgrade Project. Wined and dined at the Polo Club. Given the bid amount in advance. US $11 million dollars. Was asked to submit a proposal for US $14 million, of which US $3 million cash would be returned upon contract acceptance and payment. Did not win the contract. Prior to final bid acceptance, 5 Thai Pilots on the board (unbeknownst to the CEO) took$500K US Dollars from a company for the bid. Out of three companies that showed up to do a final product demo to the board, this one company didn't have a product ready to demo. In the end, this  company was declared the winner. Legal action followed and the US Department of Justice got involved. The US company went bankrupt and 5 pilots at TG got sacked. Project never resumed after that because the US DOJ put the fear in everyone involved.

 

I knew a gal, who finished 5th in the Miss Thailand Universe. She wanted to get a job as a Cabin Crew. She was told at her interview she would have to pay 400,000 baht for her slot and the manager told her she would have to sleep with him; as he claimed all applicants did? Her BF at the time was one of the younger Thai Pilots from a strong family.  Consequently she turned down the job and was lucky to get a job at Emirates.

 

One more gal I knew, her brother was one of the most Senior TG Pilots on staff. He had the European routes. He was such a drunk, he would miss flights, or fly to a destination and get drunk and miss his flight back and the airlines never said a word about it, he would sober up and they would put him on a flight back to Thailand and keep him on the schedule. No one dared to say a word or mess with his guy due to his seniority and power.

 

This is the reality of what goes on at Thai Airways.

 

Whether your are a politician or CEO in Thailand, MONEY IS POWER. You don't achieve and get any where without money. So there is a never a focus on improving the country or the airlines, as those in charge are too busy lining with pockets with money, so they will have power to protect their positions.

 

Look how many CEO's rotated in and out yet the airlines never improved under any of them?

 

As many have mentioned, the higher than though attitudes of we are the greatest airlines, even though Thai Airlines was in the toilet in rankings is indicative of the culture allowed.

 

The whole culture of those in charge need serious amounts of money to retain their status and power will ultimately continue to be their downfall. Thai's know that is the game and spend all their effort playing to reward themselves. There is NO reward for turning the airlines around and saving the government money.

 

As internationally embarrassing as this bankruptcy is, I am sure the attitude at Thai is, "We are the best airlines in the world". Just ask them.

 

I see no national shame at this point.

 

It is hard to change when you can't find anything wrong with yourself.

 

 

 

 

 

 

6 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...

Indeed. 6,000 should be the minimum. That will cut this bloated and inefficient workforce down to a reasonable size. They have all had their snouts in the far too generous trough for far too long. Aloof, arrogant, just looking at their own personal benefit. Never mind the customers. They probably envisaged the endless perks to last forever. Best to wind the entire operation down and leave commercial aviation to the private market. Works well for others. If there's a market, a new airline will survive and flourish. Af there is no market, it will die off like many a carrier before it. Time will tell.

4 minutes ago, steven100 said:

THAI will stop repaying all debt and start from scratch.

This would indicate cancellation will not be honored .....  imo 

Well I have no insight into Thai bankruptcy law.

 

But in general it's up to the court how creditors are paid as assets are liquidated.

 

Maybe they will prioritize passengers with paid tickets.But I'd be in the camp, 'Assume the worst, hope for the best'

13 minutes ago, dallen52 said:

If operations are to continue as indicated for possibly 12 months, I cannot see how the flight cancellation should not be honoured?

It's not wipe the slate clean from today. 

Unless you are privvy to more information?

 

All I got was attached..

But an indication that flights were credit until December 2020.

After bankruptcy is declared, there is no more guarantee to honor your ticket.

 

It will all be up to the court, what debts are honored or not and I suspect ticket holders will get the shaft.

 

 

Thai Airways has been bled to death. Most of the people that work there are into corruption, milking the company for everything they can.

6 hours ago, Dumbastheycome said:

If  they start redundancies  from the top down it  might help !

 

Board Room should be cleared and disinfected anyway; they are about as useful as a Chocolate Teapot !

6 hours ago, Canuck1966 said:

And this too

Going to be a rough ride for Thailand

 

https://asia.nikkei.com/Business/Companies/Panasonic-to-move-appliance-production-from-Thailand-to-Vietnam?fbclid=IwAR2htQBNXPOs8Ps5BADvr_FZg2IRl3dIx6Oo7HRj57OtcfhApJtl5Kj_BiE

And this too

 

Not a rough ride for everyone, it seems

 

https://asia.nikkei.com/Business/Thai-tycoons-buy-big-in-Europe

3 hours ago, hotchilli said:

Any idea who might buy into a defunct airline?

The Chinese -at a discount price - for the routes and infrastructure!!

6 hours ago, ThailandRyan said:

It was so they could shop for goods overseas and bring them back here to sell and make a profit.  Secondary income.  Do you not remember the 3 female attendants who were nailed by customs not that long ago....

Part of the Amazing Trusted Thailand gang!

2 hours ago, White Christmas13 said:

I guess you should fly with Qantas the average age of female crew members looks like 65 plus

Ah yes; that excrement airline where you get treated like excrement while trying to eat the muck they call food with your quickly splintering plastic 'cutlery'.   Did it once; never again !

6 hours 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....

Seize them the minute they touch down at an airport outside Thailand with appropriate legislation and legal avanues in place. South Africa recently did that to the very last operational Air Zimbabwe aircraft at Johannesburg. Even Perth airport blocked Qantas aircraft with bulldozers in an effort to seize assets as payment / collateral for unpaid airport fees and charges. It will be impossible for Thai to make use of these aircraft on domestic routes only.

11 minutes ago, GinBoy2 said:

Well I have no insight into Thai bankruptcy law.

 

But in general it's up to the court how creditors are paid as assets are liquidated.

 

Maybe they will prioritize passengers with paid tickets.But I'd be in the camp, 'Assume the worst, hope for the best'

If you read back through several articles published recently. 

Media and Here too.

There is a mechanism required for the Thailand government to basically relinquish its ties into this schmozzle. 

They have 51% ownership. 

But certain conditions have to exist before some action can happen. 

This is all part of the actions.

This would have allowed for further borrowing if that was the chosen path.

I'm no lawyer buy it all seems part of the course of action the adopted to take.

6 hours ago, RichardColeman said:

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

They had so many in storage even before the Covid shutdown it shouldn't cause them any problems.  If they had got rid of the 50ish planes they had in storage some for as long as 5 years maybe they wouldn't be so deep in debt.

5 hours 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

They tried the same with South African Airways. similar situation. They tried the umpteenth but final government bailout with pension fund money. Luckily it failed. SAA now part of a local Chapter 11 situation. Rescue practitioners are checking it out, they prefer winding it down entirely, unions in opposition of course. Govt contemplating a new airline. Latest news today is that the corrupt ANC cadre govt is, after all, bailing out the airline again. Details sketchy at the moment. A similar path seems pegged out for THAI. Slash some jobs, a bit of restructuring, then back to government subsidised smuggling and nepotism.

In January, 2017, Britain’s Serious Fraud Office, revealed after a four year investigation that Rolls Royce had paid bribes to “agents of the Thai state and employees to Thai Airways” to secure sales for its T800 engine sales between 1991 to 2005. To date, the Thai government has yet to follow up on the investigation.

 

US creditors hold 35%+ of TG's debt. This is why there must be a Chapter 11 filing in the USA. The US proceedings will shine the light on many of the  practices, salaries and activities of Thai officials.

 

I believe that we are in for some shocking revelations, and some of the creditors may not accept the  TG proposal and could instead force the  trustee to liquidate the company. 

 

Thailand is going to depend  even more on china for money.

 

 

 

I agree with the government.  They will need some help to pay back these debts.  It is so said that those employees will be laid off.