THAI airways to sell assets to raise more funding

[webfact]

THAI airways to sell assets to raise more funding

 

 

THAI airways is selling its Laksi training center building, in the Bangkhen district of Bangkok, its Nok-Air shares, its Bangkok Aviation Fuel Services (BAFS) shares and Boeing 737- 400 engines, after the bankruptcy court gave the go-ahead to do so.

 

THAI airways has been hit hard by limited travel due to the COVID-19 pandemic, which comes as they were entered bankruptcy protection and sit on the verge of liquidation.

 

The acting director of THAI airways, Chansin Treenuchagron, said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income, or to be used as permitted by law.

 

Full story: https://www.thaipbsworld.com/thai-airways-to-sell-assets-to-raise-more-funding/

 

-- © Copyright Thai PBS 2021-02-25

 

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[Justgrazing]

7 minutes ago, webfact said:

 

The acting director of THAI airways, Chansin Treenuchagron, said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income,

 

Delux doughnuts then .. 

[welshguy]

Ah good good!

 

I may get my ticket money refunded , for my cancelled! flight last September?

 

There again, I may win the euro lottery this weekend,?    I may have an army of nubile young nymphs knocking my door every day until I die..................

 

 

Then again?

 

Maybe I wont! 

[RichardColeman]

41 minutes ago, webfact said:

said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income

As opposed to settling its debt ? 

[Fex Bluse]

The Thai PBS article says THAI has been hit hard by limited travel. @sandyf, this is really surprising since the Thai domestic tourism should have been able to make up the loss of international passengers... Right?

 

ALSO, I have a far better business plan for THAI than selling old bindings in the Bangkok. 

 

THAI should open a massage place with all their unemployed flighty attendants. THAT will make money! ????????

[realfunster]

This doesn’t seem too different from this release in 2016

https://www.ddproperty.com/en/property-news/2016/1/116000/thai-airways-will-sell-its-domestic-and-international-properties

(Note properties owned by Thai in London, Sydney, Singapore, Rome, Madrid etc. What the hell were they doing...? Rhetorical question.)

 

Anyway, obviously that didn’t go well, as most of those Thai properties are still on the market 5 years later !

https://www.thaiairways.com/en_TH/about_thai/company_profile/test_pfs.page

 

This mess could take years to sort out and is a total embarrassment to Thailand.

 

[Misterwhisper]

Maybe they also could sell off some of their overpaid executives...

to fishing trawler skippers in Samut Sakhon, for example...

now that all the Burmese are quarantined.

[Srikcir]

Maybe the Thai Treasury should raise more funding to offset the economic affects of covid-19 by selling its majority stake in THAI.

[hotchilli]

4 hours ago, webfact said:

The acting director of THAI airways, Chansin Treenuchagron, said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income, or to be used as permitted by law.

To pay-off some debts would be nice.

[mtls2005]

4 hours ago, webfact said:

its Laksi training center building, in the Bangkhen district of Bangkok

 

Wonder what this on the books for? And what it will sell for? And to whom?

 

 

[hotchilli]

4 hours ago, Justgrazing said:

 

Delux doughnuts then .. 

But still no jam.

[Katipo]

I wonder if all 740 executives had a say in this decision?

[Cadan]

Where can you find approx. values and remaining debt after selling these assets ? There will be lots of commission to be made and shared so no worries. Business as usual 

[Disparate Dan]

sell off assets? They've been trying for years already (since way before the Panic) to offload dozens of useless gas-guzzling aircraft they can't fill, that were only purchased with the help of very big brown envelopes, and they couldn't do that either.

[mtls2005]

5 minutes ago, Cadan said:

Where can you find approx. values and remaining debt after selling these assets ? 

 

The "plan" should be made public after 2 or 3 March. Then it can be analyzed.

 

This yard sale would barely make a dent in the debt, or provide operating cash for more than a month or two?

 

 

[Patong2021]

44 minutes ago, Fex Bluse said:

The Thai PBS article says THAI has been hit hard by limited travel. @sandyf, this is really surprising since the Thai domestic tourism should have been able to make up the loss of international passengers... Right?

 

ALSO, I have a far better business plan for THAI than selling old bindings in the Bangkok. 

 

THAI should open a massage place with all their unemployed flighty attendants. THAT will make money! ????????

Thai Airways is primarily an international airline. Prior to Covid shutdown iits domestic business was  much smaller than its inernational. . How would you expect an international airline which flies widebodies with 300-500 pax to compensate for that loss with narrow bodies that carry 162-168 pax?

If you look at domestic market share;  Air Asia -35%, Thai Lion - 20% - Nok -18%. This leaves less than 30% of domestic market to Thai subsidiary Thai Smile.

 

I don't think you are are fair and honest to Thai Airways.

 

[DUNROAMIN]

Time to wake up to the real world Thai Airways, over rated and over priced.

[johnarth]

more stupidly to protect the rich, but it is a down hill slide this time

[Peterphuket]

6 hours ago, welshguy said:

Ah good good!

 

I may get my ticket money refunded , for my cancelled! flight last September?

 

There again, I may win the euro lottery this weekend,?    I may have an army of nubile young nymphs knocking my door every day until I die..................

 

 

Then again?

 

Maybe I wont! 

I'm first, sinds March.

[Andrew65]

1 hour ago, Patong2021 said:

Thai Airways is primarily an international airline. Prior to Covid shutdown iits domestic business was  much smaller than its inernational. . How would you expect an international airline which flies widebodies with 300-500 pax to compensate for that loss with narrow bodies that carry 162-168 pax?

If you look at domestic market share;  Air Asia -35%, Thai Lion - 20% - Nok -18%. This leaves less than 30% of domestic market to Thai subsidiary Thai Smile.

 

I don't think you are are fair and honest to Thai Airways.

 

Up until about 20 years ago Thai had a virtual monopoly on domestic flights.

[scorecard]

2 hours ago, realfunster said:

This doesn’t seem too different from this release in 2016

https://www.ddproperty.com/en/property-news/2016/1/116000/thai-airways-will-sell-its-domestic-and-international-properties

(Note properties owned by Thai in London, Sydney, Singapore, Rome, Madrid etc. What the hell were they doing...? Rhetorical question.)

 

Anyway, obviously that didn’t go well, as most of those Thai properties are still on the market 5 years later !

https://www.thaiairways.com/en_TH/about_thai/company_profile/test_pfs.page

 

This mess could take years to sort out and is a total embarrassment to Thailand.

 

 

So it's old/very old news dressed up to look like a new initiative...

[Mayhem11]

Successful public divestments mean big bonuses for blah blah blah

[Cake Monster]

" Thai " could always sell Franchises for their Doughnuts and Custard.

Probably one of the best assets they posses at this moment in time.

[kiwikeith]

2 hours ago, Fex Bluse said:

The Thai PBS article says THAI has been hit hard by limited travel. @sandyf, this is really surprising since the Thai domestic tourism should have been able to make up the loss of international passengers... Right?

 

ALSO, I have a far better business plan for THAI than selling old bindings in the Bangkok. 

 

THAI should open a massage place with all their unemployed flighty attendants. THAT will make money! ????????

You could get a flappy ending 

[Andrew65]

3 hours ago, Fex Bluse said:

The Thai PBS article says THAI has been hit hard by limited travel. @sandyf, this is really surprising since the Thai domestic tourism should have been able to make up the loss of international passengers... Right?

 

ALSO, I have a far better business plan for THAI than selling old bindings in the Bangkok. 

 

THAI should open a massage place with all their unemployed flighty attendants. THAT will make money! ????????

Air Asia has far better looking stewardesses than Thai. Many Thai stewardesses are in their 40's & 50's.

[Sydebolle]

Thai Airways = like a 7/11 without a cashier at the exit ........... everyone can help themselves now! 

[khunPer]

7 hours ago, welshguy said:

I may have an army of nubile young nymphs knocking my door every day until I die...

That might be worth to wish for...

[jomtienisgood]

12 hours ago, webfact said:

THAI airways to sell assets to raise more funding

 

 

THAI airways is selling its Laksi training center building, in the Bangkhen district of Bangkok, its Nok-Air shares, its Bangkok Aviation Fuel Services (BAFS) shares and Boeing 737- 400 engines, after the bankruptcy court gave the go-ahead to do so.

 

THAI airways has been hit hard by limited travel due to the COVID-19 pandemic, which comes as they were entered bankruptcy protection and sit on the verge of liquidation.

 

The acting director of THAI airways, Chansin Treenuchagron, said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income, or to be used as permitted by law.

 

Full story: https://www.thaipbsworld.com/thai-airways-to-sell-assets-to-raise-more-funding/

 

-- © Copyright Thai PBS 2021-02-25

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

Let me check my Bank account.555555

[jomtienisgood]

6 hours ago, Patong2021 said:

Thai Airways is primarily an international airline. Prior to Covid shutdown iits domestic business was  much smaller than its inernational. . How would you expect an international airline which flies widebodies with 300-500 pax to compensate for that loss with narrow bodies that carry 162-168 pax?

If you look at domestic market share;  Air Asia -35%, Thai Lion - 20% - Nok -18%. This leaves less than 30% of domestic market to Thai subsidiary Thai Smile.

 

I don't think you are are fair and honest to Thai Airways.

 

I did my best, I flew to Khon Kaen return last week. 555555????

[KannikaP]

7 hours ago, Srikcir said:

Maybe the Thai Treasury should raise more funding to offset the economic affects of covid-19 by selling its majority stake in THAI.

To whom?