$TAWNF GOOD NEWS FOR EQUITY Although THAI’s reform plan will be implemented and exercised through the business reorganization chapter under the bankruptcy law, THAI will not be dissolved or go into liquidation or to be declared bankrupt. On the contrary, the business reorganization chapter will enable THAI to reach its reform plan’s objectives even more effectively step by step as required by the law which provides equitable protection to all relevant stakeholders while THAI will be able to conduct its normal business operations including passenger and cargo transportation. The business will be conducted in parallel with the reform plan to increase operational efficiency and improve product and service quality. https://www.thaiairways.com/en/news/news_announcement/news_detail/thai-reform-plan.page AIMO.
Finance Minister Arkhom Termpittayapaisith is expected to submit a proposal to have Thai Airways International (THAI) reinstated as a state-owned enterprise under the category 3 for a cabinet consideration today, according to a source with the Ministry who cited this proposal as an important condition agreed upon by THAI’s creditors. ? Fears already rose that the airline’s creditors which are financial institutions may not support loans of 25 billion baht for THAI if the cabinet fails to approve THAI’s reinstatement and this will lead THAI to face bankruptcy. ? Creditors and their official receiver will hold an online meeting to consider THAI’s rehab plan tomorrow. ? Government Savings Bank president Vitai Ratanakorn has come out to say that the bank is ready to approve THAI’s rehab plan. He added that the airline has a plan to inject funds of 25 billion baht each to shareholders and creditors.
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