Cash-strapped THAI finds winning formula with deep-fried dough sticks

[JeffersLos]

Management's families ate for free? 

[hotchilli]

39 minutes ago, Hi Tea said:

"...where's all the continued support for financing coming from?"

The usual places, banks, probably.

 

"Directors, managers, staff etc etc receiving payment?"

I don't know that, I don't run the company but, yes, I would imagine that staff are being paid.  There sure would have been reports about it if they weren't.

My point exactly, a bankrupt airline, with aircraft parked up effectively dead... borrowing money from banks to pay staff to sit around making donuts.

Who do you think is telling the banks to keep the funds coming?

[Hi Tea]

19 minutes ago, hotchilli said:

borrowing money from banks to pay staff to sit around making donuts.

The entire staff is not making doughnuts.  If some are busy making and then selling doughnuts, they're not being paid to "sit around".

 

You do know that the airline is in the process of restructuring, which could save it and the jobs of the staff?  It sounds to me as though you'd be very happy to see it bankrupted, closed down and all the employees out of work.  Why would you want to give that impression?

[hotchilli]

13 minutes ago, Hi Tea said:

The entire staff is not making doughnuts.  If some are busy making and then selling doughnuts, they're not being paid to "sit around".

 

You do know that the airline is in the process of restructuring, which could save it and the jobs of the staff?  It sounds to me as though you'd be very happy to see it bankrupted, closed down and all the employees out of work.  Why would you want to give that impression?

Okay only a percentage of the staff are making donuts, the rest are sitting around doing nothing.

Can you tell me what "restructuring" is going on, because from what's been in the press not a lot of changes have been made, a few tweaks maybe, restructuring absolutely not !

As for the airline yes, I would like to see it bankrupted, as it should have been.

It's been on paper a failure for years, just a money pit that the government have been subsidising while other airlines have been trying to go it alone in the real commercial world.

It's a defunct business that should have slipped under years ago.... 

When she skies eventually open up next year only the very lean airlines are going to make it... I don't see Thai airways ever being very lean in it's present model.. actually it resembles it's former self with the clueless still at the helm.

 

 

[josephbloggs]

6 hours ago, hotchilli said:

Okay only a percentage of the staff are making donuts, the rest are sitting around doing nothing.

Can you tell me what "restructuring" is going on, because from what's been in the press not a lot of changes have been made, a few tweaks maybe, restructuring absolutely not !

 

You do realise that you don't just declare yourself bankrupt then you're free to make the "sweeping changes" you expect, immediately?  It was less than a week ago that the bankruptcy court accepted their petition for bankruptcy and appointed the bankruptcy planners (many of them independent).

The planners will then come up with a reorganisation plan and submit that to the court around the end of the year, then if the court approves it it will get a go ahead in Q1 2021 and it will appoint someone to carry it out.

They also need to allow time for all creditors to file their applications for debt repayment which will also be incorporated into the plan and sanctioned by the court.

Bankruptcy proceeding are not fast in any country.  

But never mind all that, continue to bash and continue to enjoy living in your world where court matters obviously happen instantly.

Not saying Thai hasn't been badly run - it has.  But unlike you I don't wish all those thousands of people to be put out of work due to spiteful reasoning.

[KKr]

instead of doing something useful like reorganising the business...
whatever keeps people clicking

[varun]

Governments the world over are equally idiotic when it comes to bail-outs - especially for airlines and banks.

 

Just saw this a couple of days ago - this is what should have really been done with Thai:

 

 

Edited September 21, 2020 by varun