Thai AirAsia X files for bankruptcy

[webfact]

File photo

 

By Online Reporter

 

Thai AirAsia X has filed for bankruptcy with the Central Bankruptcy Court in Bangkok, the airline announced on Thursday (May 19).

 

The airline said its case was accepted on Wednesday after it made its submission to the court on Tuesday.

 

Keep up to date with all things Thailand - Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe

 

“The objective is to revamp the company’s administration process and restructure its debts, delivering greater efficiency and a solid platform for robust future growth after weathering the COVID-19 pandemic”, read a statement from the company.

 

“The process will have no impact on passengers as operations will continue as usual and Thai AirAsia X prepares to reintroduce flights to South Korea and Japan from June 2022 onwards”.

 

Full story: https://www.huahintoday.com/thailand-news/thai-airasia-x-files-for-bankruptcy/

 

-- © Copyright Hua Hin Today 2022-05-20

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

[KhunLA]

Not much of a surprise.  Actually surprised any airlines that is still operating hasn't yet applied for bankruptcy protection.

[KhunBENQ]

As I understand this "X" is separate from Thai AirAsia which does domestic flights.

[steven100]

nok air is still hanging in there .....   

[RichardColeman]

4 hours ago, webfact said:

“The objective is to revamp the company’s administration process and restructure its debts, delivering greater efficiency and a solid platform for robust future growth after weathering the COVID-19 pandemic”, read a statement from the company.

Ah, so they have seen the Thai Air fiddle and want the same

[blazes]

Bankruptcy is not good for business....

[ThailandRyan]

42 minutes ago, steven100 said:

nok air is still hanging in there .....   

Were they assisted by the Government awhile bak?  I know they had a special promotion where you could purchase a voucher for XXXX Thb, and use it in the future, wonder if that has assisted their finances.

[hotchilli]

5 hours ago, webfact said:

“The objective is to revamp the company’s administration process and restructure its debts, delivering greater efficiency and a solid platform for robust future growth after weathering the COVID-19 pandemic”, read a statement from the company.

I thought doing that before filing for bankruptcy would have been better.

 

[Excel]

1 hour ago, RichardColeman said:

Ah, so they have seen the Thai Air fiddle and want the same

Except certain people do not fly Thai Airasia X so no need for the the government to waste billions of baht of public funds to support it unlike Thai Air

Edited May 20, 2022 by Excel

[Changoverandout]

‘Flies for bankruptcy’

[scorecard]

4 hours ago, KhunBENQ said:

As I understand this "X" is separate from Thai AirAsia which does domestic flights.

But for me there's one question, I booked/paid for a flight Sydney to Chiang Mai thru KL, which obviously involved AirAsia X and Thai AirAsia X. Airline cancelled the flight, no refund but they gave me a credit, since used about 20% of the credit on a 1 way flight Suvarnabhumi to Chiang Mai.

 

What about remainder of my credit, does it stand or does acceptance as bankrupt cancel the credit.

 

Only time will tell. 

[SomchaiCNX]

5 hours ago, KhunBENQ said:

As I understand this "X" is separate from Thai AirAsia which does domestic flights.

Yes, but like same same but different. They split up companies to avoid problems like this would ground the company as an whole. Good for tax reason, good for survival.

 

[Burma Bill]

1 hour ago, scorecard said:

involved AirAsia X and Thai AirAsia X. Airline cancelled the flight, no refund but they gave me a credit, since used about 20% of the credit on a 1 way flight Suvarnabhumi to Chiang Mai.

With the greatest respect, Thai Air Asia and Thai Air AsiaX do not fly to/from Suvarnabhumi (BKK) to Chiang Mai, they use Don Mueang (DMK). Maybe you used some of your credit with another airline?

[Greenwich Boy]

7 minutes ago, Burma Bill said:

With the greatest respect, Thai Air Asia and Thai Air AsiaX do not fly to/from Suvarnabhumi (BKK) to Chiang Mai, they use Don Mueang (DMK). Maybe you used some of your credit with another airline?

Air Asia have been flying to CNX from DMK and BKK for some time.

 

[rbkk]

The bankruptcy court is going to be busy. Syn Mun Kong Insurance also applied for bankruptcy protection this week. They owe my wife and 2 children 200,000 baht for their 3 Covid-19 policies they sold us but are delaying payment on.  

[KhunBENQ]

49 minutes ago, Greenwich Boy said:

Air Asia have been flying to CNX from DMK and BKK for some time.

 

You were faster.

Example: FD4100 of today, BKK - CNX, landed 7:42 (schedule 7:45).

Tail number HS-BBG:

They have given up the strict DMK policy sometime after the Covid period began.

BKK empty.

Edited May 20, 2022 by KhunBENQ

[scorecard]

56 minutes ago, Burma Bill said:

With the greatest respect, Thai Air Asia and Thai Air AsiaX do not fly to/from Suvarnabhumi (BKK) to Chiang Mai, they use Don Mueang (DMK). Maybe you used some of your credit with another airline?

My error, my apology, you are correct, my AirAsia flight was from Don Muang to CM.

[KhunBENQ]

2 minutes ago, scorecard said:

My error, my apology, you are correct, my AirAsia flight was from Don Muang to CM.

Your flight but other flights going from BKK.