Thai AirAsia among local airlines seeking loans after being turned away by govt

[rooster59]

Thai AirAsia among local airlines seeking loans after being turned away by govt

By The Nation

 

 

Thai AirAsia is in talks with local and foreign financial institutes to secure loans to boost liquidity this year, said its executive chairman Tassapon Bijleveld.

 

 

The low-cost airline is also consulting a financial adviser on options to boost liquidity, including issuing new shares or taking loans. There would be good news in the next two weeks, said Tassapon, adding that Thai AirAsia would not fall out of the business.

 

He said seven local airlines were now seeking credit to boost their liquidity, instead of waiting for soft loans from the government.

 

The seven airlines have held several rounds of talks with state agencies and ministries for soft loans to counter the economic impact of Covid-19, but loans are yet to be granted.

 

Source: https://www.nationthailand.com/business/30401309

 

-- © Copyright The Nation Thailand 2021-01-16

 

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[ukrules]

No support from central government = a complete and total collapse.

 

I'll be sitting watching it unravel over the next year or two - because that's how long it's going to take.

[tonray]

I've already loaned them 3500 baht which they apparently intend to default on

[Pilotman]

17 minutes ago, tonray said:

I've already loaned them 3500 baht which they apparently intend to default on

my advice, go to U Tapao and impound one of their aircraft until they pay up. if they don't pay, sell it.  

[graemeaylward]

5 hours ago, rooster59 said:

The low-cost airline is also consulting a financial adviser on options to boost liquidity,

What sort of company does not have their own financial team?!!!!!! Pretty poor show if you have to consult  a financial advisor outside such a large company!

[tonray]

26 minutes ago, graemeaylward said:

What sort of company does not have their own financial team?!!!!!! Pretty poor show if you have to consult  a financial advisor outside such a large company!

A company with no cash to pay them

[tonray]

On 1/16/2021 at 10:42 AM, graemeaylward said:

What sort of company does not have their own financial team?!!!!!!

Let me translate Business Speak for you: It means they are engaging a firm that specializes in bankruptcy and/or dissolution.