Thai Airways’ debt trouble Restructuring Plan, Thailand’s Cabinet had approved

Thai Airways headed for bankruptcy protection

Thai Airways is facing losses since 2013 (except 2016), and In 2019, it reported losses of 12.04 billion baht. Now in the Pandemic Covid-19, the company facing even more trouble when most of their capacity as air travel being grounded. It had been in trouble even before the outbreak of the coronavirus due to stiff competition from budget airlines.

Thailand’s cabinet approved a plan to restructure troubled Thai Airways International’s finances through a bankruptcy court, the Southeast Asian country’s prime minister said on Tuesday (May 19). (Based on ChannelNewsAsia.com)

Colombia’s Avianca Holdings SA and Virgin Australia Holdings have filed for bankruptcy protection since the pandemic started. This show how bad is the pandemic Covid-19 affected the Airline Business, and related business.

“The government has reviewed all dimensions … we have decided to petition for restructuring and not let Thai Airways go bankrupt. The airline will continue to operate,” Prime Minister Prayuth Chan-ocha told reporters at a news briefing. (Based on ChannelNewsAsia.com)

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