EXIM Bank Financially Assists Local Airlines

BANGKOK (NNT) - Export-Import Bank of Thailand (EXIM Bank) has provided financial support to local airlines, worth more than 6.2 billion baht to increase their liquidity and to restructure their debts, according to EXIM Bank President Rak Vorrakitpokatorn.

Mr. Rak said the financial assistance comprises the suspension of loan repayments and debt rescheduling, with a total debt value of 3.5 billion baht. Additionally, the bank also approved loans of 2.7 billion baht to the local airlines to relieve their financial crisis caused by the Covid-19 pandemic.

Mr. Rak said the bank has been closely monitoring the pandemic situation to see if the number of infections would rise and whether it would affect people’s travels. If case number keeps rising, it may affect the regeneration of Thai tourism which has been improving gradually. Mr. Rak said state-run banks have to continue supporting virus-hit businesses so they can maintain operations during the pandemic.