THAI confident creditors will back rehab plan

By The Nation

 

 

Debt-ridden Thai Airways International (THAI) has already talked with many of its creditors as it draws up a rehabilitation plan for restructuring.

 

Acting president Chansin Treenuchagron said he was confident the carrier’s creditors will support the rehab plan, adding it was the best way out of the debt situation.

 

The airline filed for restructuring under bankruptcy protection at the central bankruptcy court on May 26. The rehab plan will be presented to the court on August 17.

 

The plan will reportedly restructure and reschedule the airline’s debt commitments and cancel unprofitable routes. It will also cut costs to make the carrier leaner and more competitive.

 

Source: https://www.nationthailand.com/business/30391508

 

-- © Copyright The Nation Thailand 2020-07-20

 

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“Cancel unprofitable routes”

 

How about opening a few that may help. 

3 hours ago, webfact said:

cancel unprofitable routes.

Like Geneva to Bangkok. 

23 minutes ago, Wiggy said:

Like Geneva to Bangkok. 

:))

Edited July 19, 20205 yr by ChrisY1

Local creditors will accept, they have little say in the matter.

 

International creditors? Different story.

Rehab!  No hab.

Smoke and mirrors.  If they are only cutting 5% of the work force they ain't to serious. 

They'll have to do a lot more than they promised to have any chance of that. What THAI needs is a complete overhaul of operations, not just a cosmetic touch-up and repainting of the planes. Or maybe they should let Singapore Airlines management come in for 6 months to clean the place up.

1 hour ago, Mr Meeseeks said:

Local creditors will accept, they have little say in the matter.

 

International creditors? Different story.

8 hours ago, webfact said:

Acting president Chansin Treenuchagron said he was confident the carrier’s creditors will support the rehab plan, adding it was the best way out of the debt situation.

Best way for Thai... should have let it go bust!

If it couldn't make a profit when the going was good they haven't got a cat in hells chance of making it in the new world order.

10 hours ago, webfact said:

Acting president Chansin Treenuchagron said he was confident the carrier’s creditors will support the rehab plan, adding it was the best way out of the debt situation.

That's as may be, but I think after the airline was declared bankrupt, all new contracts and landing slots are going to be demanded in payment up front from now on.

All routes are canceled with this government unless they start flying pigs ????

And no one questioning the government sell off right before it going bust? Who in their right mind would invest in Thailand? Rotten to the core.

4 hours ago, tomazbodner said:

They'll have to do a lot more than they promised to have any chance of that. What THAI needs is a complete overhaul of operations, not just a cosmetic touch-up and repainting of the planes. Or maybe they should let Singapore Airlines management come in for 6 months to clean the place up.

At the moment SIA has enough troubles of its own, being a major share holder of Virgin Australia.