THAI sees turnaround by 2024, expects bankruptcy court approving new rehabilitation plan by October

[webfact]

 

By Narudon Daisachulshu

The embattled national carrier – Thai Airways International Plc (THAI), has come out to say that it was starting to see a turnaround of its business as passenger traffic starts to revive, after 2-years of restricted travel.

 

THAI came out to say that its performance during the course of this year and next is set to witness a turnaround as its load factor has seen a sharp increase.

 

“The trend for the remaining 2 quarters is expected to be better than the target,” Chai Iamsiri, the head of finance and accounting for the embattled airline said during the presentation at the ‘Opportunity Day’ at the Stock Exchange of Thailand (SET).

 

Full story: https://www.thaienquirer.com/44433/thai-sees-turnaround-by-2024-expects-bankruptcy-court-approving-new-rehabilitation-plan-by-october/

 

-- © Copyright Thai Enquirer 2022-09-21

 

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[RichardColeman]

3 hours ago, webfact said:

THAI came out to say that its performance during the course of this year and next is set to witness a turnaround as its load factor has seen a sharp increase.

Well, derr, if you cannot get a cup of water full as you turn the tap off and then turn it on again course it will get fuller. 

[ezzra]

Of course, it's the public money so it's doesn't hurt when you lose buckets of cash..Time to sell that fledgling and badly manged airline to an investors who knows how to run an airline, and if the make mistakes, it will be their own can they be losing not the public's...

[Tracyb]

What?  Another plan??

[hotchilli]

7 hours ago, webfact said:

The embattled national carrier – Thai Airways International Plc (THAI), has come out to say that it was starting to see a turnaround of its business as passenger traffic starts to revive, after 2-years of restricted travel.

After two years of restricted travel and decades of mis-management and corruption.

[scorecard]

2 hours ago, hotchilli said:

After two years of restricted travel and decades of mis-management and corruption.

I have my doubts. A debt of several billion Baht and they will turn it all around (whatever that means) in 2 years? Not forgetting that they have to pay their current operational costs before they can allocate any excess funds to paying off the massive debt.

 

Seems to me the left hand doesn't know what the right hand is doing and also doesn't really understand the legal situation or terms involved. 

 

[hotchilli]

59 minutes ago, scorecard said:

I have my doubts. A debt of several billion Baht and they will turn it all around (whatever that means) in 2 years? Not forgetting that they have to pay their current operational costs before they can allocate any excess funds to paying off the massive debt.

 

Seems to me the left hand doesn't know what the right hand is doing and also doesn't really understand the legal situation or terms involved. 

 

I have an idea what the right hand is doing...

Their idea of it turning around was a huge bailout and no repayments required.

The debt written off and forgotten about.

A state run enterprise which was riddled with debt, ineptitude and corruption..

but hey lets keep it running to save the national carrier.

[spidermike007]

Making any sort of tourism arrival, ticket sales or related prediction at this time is impossible. It is even more difficult for an airline that has fallen off it's perch, has seen it's service drop off, and has a badly damaged reputation too. 

[harada]

[John Drake]

How many bankruptcy plans does this make?

[scorecard]

2 hours ago, hotchilli said:

I have an idea what the right hand is doing...

Their idea of it turning around was a huge bailout and no repayments required.

The debt written off and forgotten about.

A state run enterprise which was riddled with debt, ineptitude and corruption..

but hey lets keep it running to save the national carrier.

Point taken, however my understanding is that the company no longer qualified as a recipient of such funding, all part of the new set up of the company as ageed by the creditors.