The Chief Financial Officer of Thai Airways, Chai Eamsiri, submitted information to the Central Bankruptcy Court in September

 

by James Morris and Son Nguyen

 

It appears that the airline, kept alive by cargo freight income and the protection of the court through the pandemic emergency, has made substantial progress in trimming its previously huge cost base while capturing market share as the country reopened with other international airlines, for now, scrambling after richer pickings while others are not able to compete on routes to Bangkok as before.

 

However, Bangkok Bank, a key dissenting creditor in a submission to the Central Bankruptcy Court has expressed its doubts about the firm’s high-flying plans to find further credit which includes an expressed intention to relaunch itself on the stock market by 2025.

As part of its revised business plan approved by the Central Bankruptcy Court in Bangkok on Thursday, Thai Airways will finally begin refunding ticket purchases made by customers before it filed for bankruptcy in May 2022. Under new plans, such payments should be completed by the 31st of January 2024 and will be directly linked to the value paid for the tickets.

 

The airline which has had its operating performance boosted since the reopening of Thailand earlier this year is projected to fly 4.4 million passengers in 2022 with an average flight load of about 80%. 

 

Full story: https://www.thaiexaminer.com/thai-news-foreigners/2022/10/21/flyers-to-finally-receive-refunds-from-thai-airways/

 

-- © Copyright Thai Examiner 2022-10-22

 

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I hope they make it through these tough times, their hostesses are hot. Fantastic airline.

High flying Thai Airways?.........................That's a stretch of the imagination, they've been wallowing in losses for years!

They are still struggling. This week they are stopping the flights from Perth to Bangkok.

For those reading this and waiting for a refund, all I can say is,   'don't hold your breath'

I flew on Thai back in May to the UK. The service and food quality was terrible and you could see they had cut corners on service. Even those wonderful Thai smiles covered by masks. They have gained market share because airlines such as British airways haven't resumed services yet. In addition to the historic corruption and xenophobia in not recruiting a best in class foreigner to turn this airline around just as Emirates and many airlines around the world have done they will never be able to compete on the world stage. Their demise in inevitable.

3 hours ago, webfact said:

Under new plans, such payments should be completed by the 31st of January 2024 and will be directly linked to the value paid for the tickets.

So basically it was a 4 years interest free loan then, Great for them , lousy for the 'investor' 

I have used Thai both internationally and domestically on a few occasions, over many years. Always found them to be substandard. Always had issues with service, and often with baggage handling. In addition, an airline that considers itself to be world class, figures out a way to refund money to passengers and does it within a reasonable period. I had tickets canceled by EVA due to covid and the money was returned. Took a few months, but there was no fight required to get the money back. 

 

Thai Air might be in the top 30. Toward the bottom. Maybe. 

1 hour ago, jaiyen said:

They are still struggling. This week they are stopping the flights from Perth to Bangkok.

I checked flights from Perth no economy but business class $12,000 AUD return , even their flights from Sydney economy are very expensive, Singapore airlines now has a stranglehold on flights from Australia to Thailand , still no flights direct from Brisbane , have to fly Qantas Brisbane to Sydney then they give you 75 mins to transfer from domestic to international terminal (in this time you have to disembark Qantas jet, collect bags , shuttle bus to international terminal , check in, clear customs ) talk about fine if not impossible 

1 hour ago, Dene16 said:

For those reading this and waiting for a refund, all I can say is,   'don't hold your breath'

Got my refund from them early this year, they were very helpful. I hope they recover quickly, have booked again with them.

6 minutes ago, darrenr said:

I checked flights from Perth no economy but business class $12,000 AUD return , even their flights from Sydney economy are very expensive, Singapore airlines now has a stranglehold on flights from Australia to Thailand , still no flights direct from Brisbane , have to fly Qantas Brisbane to Sydney then they give you 75 mins to transfer from domestic to international terminal (in this time you have to disembark Qantas jet, collect bags , shuttle bus to international terminal , check in, clear customs ) talk about fine if not impossible 

Generally requires 3 hrs so have your running shoes on. Good luck.

Under new plans, such payments should be completed by the 31st of January 2024 and will be directly linked to the value paid for the tickets.

 

directly linked as in an honest 10% ?   20%  ? of the actual ticket price?

3 hours ago, jaiyen said:

They are still struggling. This week they are stopping the flights from Perth to Bangkok.

Any link on that?

I recently flew on Thai Airways to Europe and back, in business class.

The service and food was as good as  other airlines I have flown with such as Etihad and Emirates. No complaints at all.

4 hours ago, Inala said:

I hope they make it through these tough times, their hostesses are hot. Fantastic airline.

Air Asia stewardesses are much hotter than Thai stewardesses. Being a 'legacy airline', many of Thai's stewardesses should have retired 25 years ago, an old friend used to say that Air Canada were the same, (grab-a-grannie).

I see Thai now wanting £1350 to fly LHR-BKK rtn, it used to be half as much.

2 minutes ago, Andrew65 said:

Air Asia stewardesses are much hotter than Thai stewardesses. Being a 'legacy airline', many of Thai's stewardesses should have retired 25 years ago, an old friend used to say that Air Canada were the same, (grab-a-grannie).

I see Thai now wanting £1350 to fly LHR-BKK rtn, it used to be half as much.

 

 

Same for British Airways.

Remember how they served me pre-covid frozen caviar in First class and asking me rude “why you need a full meal at 1am in the morning”. Their service was elegant, genuine and lovely, but got worse year by year. Som nam na for their economic situation.

I stopped flying Thai years ago. A truly sub-standard flying experience. And to show I'm not Thai bashing, I also stopped flying British Airways years ago for exactly the same reason

I always thought Thai Airways was great. I was on my way to Milan for a three month vacation when Covid hit. They still owe me 44,000 baht. Good news!

6 minutes ago, mrbojangles said:

I stopped flying Thai years ago. A truly sub-standard flying experience. And to show I'm not Thai bashing, I also stopped flying British Airways years ago for exactly the same reason

Much of it somes down to "cost-cutting".

I have recently had Long Haul Flights with both Thai and Singapore Airlines.Thai was surprisingly superior at every point from Check In to food to seat comfort.Have another long haul booked with Thai.They have just changed the timing of the return leg by 6 hours that now doesn’t coincide with a domestic connection.Will be interesting to see how they handle the required rescheduling that is now required.

Once upon a time ....... I've given up long time ago, wrote off the loss and will never ever board a TG aircraft ever again. Good luck with Thailand's biggest fraud on the public; somehow they would even have to recover 300+ billion Thai Baht which did not disappear into thin air but possibly got stashed away somewhere else ........

Any news on the Thai employees who were on the taking side of the Rolls Royce bribe; the UK part is apparently settled and court-decided already ????  Just asking for a friend

flying with Thai every three weeks direct to Europe. The price is the cheapest option and no stopover in the ME.  Service is good, main meal better than other airlines, breakfast same as others.... dog s***

The worst thing is, unlike six months ago, the plane is 100% full every time now, i was getting quite accustomed to having a row to myself haha.

 

7 hours ago, webfact said:

As part of its revised business plan approved by the Central Bankruptcy Court in Bangkok on Thursday, Thai Airways will finally begin refunding ticket purchases made by customers before it filed for bankruptcy in May 2022.

If they owed me money I'd never fly them again.  The fact that they owe people money is enough to keep me from flying this them.

4 hours ago, Bim Smith said:

xenophobia in not recruiting a best in class foreigner to turn this airline around

Are you xenophobic towards Thai nationals ?

meaning you think that the nation doesn’t have highly educated people to run a company?

Does this mean you might be an expat looking down on Thai nationals as uneducated?

 

Your words are very concerning and should have been flagged by a site monitor.

7 hours ago, webfact said:

However, Bangkok Bank, a key dissenting creditor in a submission to the Central Bankruptcy Court has expressed its doubts about the firm’s high-flying plans to find further credit which includes an expressed intention to relaunch itself on the stock market by 2025.

It's being propped up by some influential players.. 

it should have gone to the wall,
A national flagship... more like a national disgrace.

7 hours ago, webfact said:

Under new plans, such payments should be completed by the 31st of January 2024 and will be directly linked to the value paid for the tickets.

????

6 hours ago, Inala said:

I hope they make it through these tough times, their hostesses are hot. Fantastic airline.

The got fat on the donuts

6 hours ago, Inala said:

I hope they make it through these tough times, their hostesses are hot. Fantastic airline.

Maybe i need new glasses?. i remember their hostesses as somewhat dowdy and matron-like

15 minutes ago, Drop the dead donkey said:

Are you xenophobic towards Thai nationals ?

meaning you think that the nation doesn’t have highly educated people to run a company?

Does this mean you might be an expat looking down on Thai nationals as uneducated?

 

Your words are very concerning and should have been flagged by a site monitor.

It's possible to be highly educated and a crook at the same time????