snoop1130 Posted September 14, 2020 Share Posted September 14, 2020 Court okays THAI’s rehabilitation plans By THE NATION THAI acting president Chansin Treenuchagron visits the bankruptcy court this morning to hear the court's order on the airline's rehabilitation. The court has been mulling this issue since May 26. The bankruptcy court on Monday (September 14) gave the go-ahead to Thai Airways International (THAI)’s rehabilitation plan and choice of planner to implement it. As announced in the Royal Gazette earlier, THAI’s creditors have about a month to file for the repayment of debts either online or at the airline’s headquarters in Bangkok. The creditors will then be presented with the rehabilitation plan for approval before it goes to court for a final okay. This procedure will take another two to three months. THAI had previously informed its shareholders that the restructuring process will focus on five aspects, namely debt repayment, a review of its routes and fleet, improvement of management structure, review of financial strategy and methods to generate revenue, and making its organisational structure compact. As of 11.30am on Monday, THAI stocks had risen 6.51 per cent to Bt3.60 per share. Source: https://www.nationthailand.com/news/30394501 -- © Copyright The Nation Thailand 2020-09-14 - 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 ExpatOilWorker Posted September 14, 2020 Popular Post Share Posted September 14, 2020 When can we expect to see our ticket refund returned? 6 Link to comment Share on other sites More sharing options...
Popular Post fangless Posted September 14, 2020 Popular Post Share Posted September 14, 2020 1 hour ago, ExpatOilWorker said: When can we expect to see our ticket refund returned? Never! 3 2 Link to comment Share on other sites More sharing options...
trainman34014 Posted September 14, 2020 Share Posted September 14, 2020 I would love to read this 'Rehabilitation Plan' ! 1 Link to comment Share on other sites More sharing options...
mark131v Posted September 14, 2020 Share Posted September 14, 2020 3 minutes ago, trainman34014 said: I would love to read this 'Rehabilitation Plan' ! Steaks on a plane and cockpit experience for none existant tourists on their grounded jets, don't reckon it will end well and glad they do not owe me anything..... 1 Link to comment Share on other sites More sharing options...
steven100 Posted September 14, 2020 Share Posted September 14, 2020 1 hour ago, ExpatOilWorker said: When can we expect to see our ticket refund returned? never 1 Link to comment Share on other sites More sharing options...
fangless Posted September 14, 2020 Share Posted September 14, 2020 (edited) 15 minutes ago, trainman34014 said: I would love to read this 'Rehabilitation Plan' ! Try reading some fairy tales! They will be more honest and believable. Edited September 14, 2020 by fangless 1 Link to comment Share on other sites More sharing options...
greeneking Posted September 14, 2020 Share Posted September 14, 2020 11 minutes ago, trainman34014 said: I would love to read this 'Rehabilitation Plan' ! Mull, mull, mull....... But I won't be buying any shares myself ha ha ha. 1 Link to comment Share on other sites More sharing options...
steven100 Posted September 14, 2020 Share Posted September 14, 2020 Rehabilitation plan 101. 'we really promise to try harder and save and not spend millions of baht on ourselves from the till' Link to comment Share on other sites More sharing options...
Meat Pie 47 Posted September 14, 2020 Share Posted September 14, 2020 1 minute ago, steven100 said: Rehabilitation plan 101. 'we really promise to try harder and save and not spend millions of baht on ourselves from the till' And I thought you were talking the Junta then. 2 Link to comment Share on other sites More sharing options...
RichardColeman Posted September 14, 2020 Share Posted September 14, 2020 Wait till they are asked to pay in advance for the landing spots 2 Link to comment Share on other sites More sharing options...
steven100 Posted September 14, 2020 Share Posted September 14, 2020 4 minutes ago, RichardColeman said: Wait till they are asked to pay in advance for the landing spots and wait till they land somewhere that is owed millions for lease payments .... I would love that to happen .... lol 1 Link to comment Share on other sites More sharing options...
PatOngo Posted September 14, 2020 Share Posted September 14, 2020 5 hours ago, ExpatOilWorker said: When can we expect to see our ticket refund returned? When they return to profit...............Maybe in the next incarnation (chart na) 1 1 Link to comment Share on other sites More sharing options...
Popular Post Srikcir Posted September 15, 2020 Popular Post Share Posted September 15, 2020 'Court approves THAI's plan' But the Court still needs the Creditors' approval before the Court makes a 'final' approval - a 2 to 3 month process. Knowing this process isn't completed, why did the Court bother with any approval at this time? Feels as if the Court is trying to pressure the Creditors for a quick closure. Headline is premature, if not misleading and perhaps discloses an unjudicial action by the Court. 5 Link to comment Share on other sites More sharing options...
overherebc Posted September 15, 2020 Share Posted September 15, 2020 Serious question. Are bankrupt laws so very different between EU and Asia. Former BIL in uk had a company that went to the wall and about 2 months later was back on trading using a slightly changed name and his father as head of the new company. BIL ran it in from the background and his father just signed things as needed. Seemed to work out ok. Link to comment Share on other sites More sharing options...
hotchilli Posted September 15, 2020 Share Posted September 15, 2020 16 hours ago, trainman34014 said: I would love to read this 'Rehabilitation Plan' ! There isn't one, 1 Link to comment Share on other sites More sharing options...
Grumpy John Posted September 15, 2020 Share Posted September 15, 2020 This is a part public owned company so the 'Rehabilitation Plan' shoud be released. Link to comment Share on other sites More sharing options...
Mises Posted September 15, 2020 Share Posted September 15, 2020 5 minutes ago, Grumpy John said: This is a part public owned company so the 'Rehabilitation Plan' shoud be released. http://thai.listedcompany.com/misc/PRESN/20200828-thai-public-presentation-en.pdf 1 Link to comment Share on other sites More sharing options...
klauskunkel Posted September 15, 2020 Share Posted September 15, 2020 THAI rehab plan: 1) Government gives THAI money from tax-payer 2) THAI spend money on stuff and things 3) repeat 1)+2) Link to comment Share on other sites More sharing options...
Burma Bill Posted September 15, 2020 Share Posted September 15, 2020 20 hours ago, snoop1130 said: (THAI)’s rehabilitation plan and choice of planner to implement it. Link to comment Share on other sites More sharing options...
scorecard Posted September 15, 2020 Share Posted September 15, 2020 "THAI had previously informed its shareholders that the restructuring process will focus on five aspects, namely debt repayment, a review of its routes and fleet, improvement of management structure, review of financial strategy and methods to generate revenue, and making its organisational structure compact." Well there's a nice warm and fuzzy statement. After paying their immediate operating costs, how much will they have left over to repay the several hundred billion Baht debts? Can't be all that much 'left over' considering they operate in a very competitive industry. Seven years to clear the debt. Seems to me 700 years is a more realistic estimate. 1 Link to comment Share on other sites More sharing options...
natway09 Posted September 15, 2020 Share Posted September 15, 2020 Difference being that this time Thai cannot hide behind "being a Government body" They missed out a few important changes needed. No free flights for staff or management families No jobs for the cronies (All management positions to be selected by external Personnal Companies ALL Government Dept travel MUST be actually paid on a monthly basis No internal "commission" All procurement of any kind to be overseen & approved with pricing before ordering by International Accounts firm Headhunt & employ an external Non Thai as CEO who has vast experience in the International Aviation business. They are available at present Sadly my last 2 points are an absolute must if this airline is to survive & sadly Thais at all levels have proven that they are unable to keep their fingers out of the cookie jar. Government interference to be kept to a minimum in particular as they are no longer the majority shareholders, ie through shareholders meetings only (I bet you they appoint all Thais to the board This is for starters ,,,,,,, next month another list Link to comment Share on other sites More sharing options...
scorecard Posted September 15, 2020 Share Posted September 15, 2020 1 hour ago, natway09 said: Difference being that this time Thai cannot hide behind "being a Government body" They missed out a few important changes needed. No free flights for staff or management families No jobs for the cronies (All management positions to be selected by external Personnal Companies ALL Government Dept travel MUST be actually paid on a monthly basis No internal "commission" All procurement of any kind to be overseen & approved with pricing before ordering by International Accounts firm Headhunt & employ an external Non Thai as CEO who has vast experience in the International Aviation business. They are available at present Sadly my last 2 points are an absolute must if this airline is to survive & sadly Thais at all levels have proven that they are unable to keep their fingers out of the cookie jar. Government interference to be kept to a minimum in particular as they are no longer the majority shareholders, ie through shareholders meetings only (I bet you they appoint all Thais to the board This is for starters ,,,,,,, next month another list Is this a published / authentic document or a 'should be' suggestions list? Link to comment Share on other sites More sharing options...
welshguy Posted September 15, 2020 Share Posted September 15, 2020 As it goes, I "should" be halfway between London and Thailand now..Obviously, my flight for today was cancelled...I will be amazed! if I get any of the money back Ive paid for the ticket to Thai Airways, "Luckily"! I used some R.O.P. "miles", so i "only" lose about £400 odd..as opposed to £600. Every cloud has a silver lining!! (Well..................I could have bought a business class ticket and lost another grand!). Link to comment Share on other sites More sharing options...
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