THAI says its capital needs may be half its earlier projections as biz recover, court sets hearing date on Sept 27

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By Thai Enquirer

Thailand’s embattled national carrier – Thai Airways International Plc (THAI) revealed that it may need lower than expected new capital needs as the situation of the airline starts to improve with the Central Bankruptcy Court now scheduling its hearing for its reworked rehabilitation structure next week.

 

THAI said that the improvement in the overall operations and revival of the airline industry’s fortunes have prompted the airline to rework its recapitalization needs and therefore it may need half the amount of new equity injection than the previously projected 50 billion Baht.

 

THAI, which pre-covid outbreak, had more than 100 aircrafts of different configurations, has been battling bankruptcy proceedings and its 1st bankruptcy proceedings were approved with plans for a cost cutting, resizing of aircraft fleet, capital injection and a debt-for-equity swap.

 

Full story: https://www.thaienquirer.com/44515/thai-says-its-capital-needs-may-be-half-its-earlier-projections-as-biz-recover-court-sets-hearing-date-on-sept-27/

 

-- © Copyright Thai Enquirer 2022-09-22

 

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[edwinchester]

Does that mean they have more money to pay back those still awaiting refunds for cancelled flights?

[tomazbodner]

From linked article: The rehabilitation plan is being managed by former President and also former Energy Minister – Piyasavasti Amranand, Pornchai Thiravej, Kraisorn Baramee-Huaychai, Siri Jirapongphan and Chansin Treenuchagron.

 

Surprised they let Piyasavasti anywhere near THAI. Last time he was president of it, that was the only time in ages airline was profitable, but then he cut all the benefits of freeloading VIPs so he was promptly removed. Must show desperation and guess that the moment TG is back in green, he'll be promptly replaced by someone who can sink it with VIP benefits again. You can't expect any "do you know who I am" to actually pay 1st class tickets for the whole family shopping trip to Europe, do you?

[RichardColeman]

6 hours ago, edwinchester said:

Does that mean they have more money to pay back those still awaiting refunds for cancelled flights?

I think its just bravado for shares

[MrJ2U]

Any cash they've accrued is from selling property and assets.

 

Regarding profitable flights.  It's simply not happening.

 

Just like TAT, there always pumping up numbers.  Creditors aren't happy with the arrangement according to reports in the Bangkok Post.

 

 

 

 

[hotchilli]

18 hours ago, edwinchester said:

Does that mean they have more money to pay back those still awaiting refunds for cancelled flights?

Nah just more funds to squirrel away into bank accounts of certain people.

[bangkok19]

Does that mean they'll resume flying the Domestic routes?

Was wondering if all those planes 'parked up' along the Swampy taxi-ways will ever get used again. 

Their budget carrier, Thai Smile, seems to be a good money spinner for THAI...  they're not so much the 'budget' carrier at the moment, the BKK/CNX flights always full.   Bangkok Air cheaper (if you can get a seat).

[jacko45k]

21 hours ago, edwinchester said:

Does that mean they have more money to pay back those still awaiting refunds for cancelled flights?

Not holding my breath.