reader Posted October 23, 2022 Posted October 23, 2022 From the Thaiger Thai Airways International’s revised business reorganisation plan was approved by the Central Bankruptcy Court. The plan was submitted last month and the airline will now start on a course of financial restructuring. Does this mean everyone waiting for a refund from the Covid-19 pandemic and before Thailand’s flagship airline declared bankruptcy will finally get their money back? It is reported that part of the deal reached on Thursday with the bankruptcy court was to begin refunding customers who bought tickets before Thai Airways moved in May of this year to file bankruptcy. But don’t start your shopping spree yet, the refunds are expected to be finished by the end of January 2024. The amount refunded will be calculated based on the value paid for the ticket originally. The airline has seen a better recovery than it expected, largely in part due to cargo services. Since Covid restrictions eased and borders reopen, passenger and cargo traffic has steadily increased, supporting improved financial and operational performance. Thai Airways now has a cash flow of around 20 billion baht. In January the airline was carrying just 2,092 passengers per day. But today they’re averaging 17,554. The Ministry of Finance and other creditors for the airline have approved the restructuring plan that the bankruptcy court just gave the green light to. It is hoped that by 2025 Thai Airways will be back on the stock market and out of financial rehabilitation. They will hire a financial advisor to nail down a debt-to-equity conversion recapitalisation over the next two years of about 25 billion baht, about half of the previous goal. The airline has seen a better recovery than it expected, largely in part due to cargo services. Since Covid restrictions eased and borders reopen, passenger and cargo traffic has steadily increased, supporting improved financial and operational performance. Thai Airways now has a cash flow of around 20 billion baht. In January the airline was carrying just 2,092 passengers per day. But today they’re averaging 17,554. The Ministry of Finance and other creditors for the airline have approved the restructuring plan that the bankruptcy court just gave the green light to. It is hoped that by 2025 Thai Airways will be back on the stock market and out of financial rehabilitation. They will hire a financial advisor to nail down a debt-to-equity conversion recapitalisation over the next two years of about 25 billion baht, about half of the previous goal. TMax 1 Quote
TMax Posted October 23, 2022 Posted October 23, 2022 That's good, now I wish they would update their schedules and fares from Perth to Bangkok beyond the 3 months at a time they do now. I would love to check fares and book a trip for next year but the schedules for the Perth route on their website are only updated every 3 months and the next update is November but I want to check March onward. Singapore airlines may come into play if they don't. splinter1949 1 Quote
