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  1. #1
    Thailand Expat
    Mid's Avatar
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    THAI to borrow additional Bt10 bn

    THAI to borrow additional Bt10 bn
    Fri, September 11, 2009

    Thai Airways International Plc is borrowing Bt10 billion baht from two banks to help increase its liquidity, Chairman Ampon Kittiampon said after the board's meeting on Friday.

    The airline has borrowed Bt18 billion to improve its liquidity, following the fewer number of passengers as a result of economic slowdown, the flu and domestic political turbulence.

    Ampon said two banks have shown interest in extending the Bt10 billion loan.

    nationmultimedia.com

  2. #2
    Thailand Expat
    Mid's Avatar
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    Thai submits recapitalisation plan to government
    Ghim-Lay Yeo

    14/01/10

    Thai Airways International has submitted a recapitalisation plan to Thailand's ministry of finance, which is likely to buy new shares issued by the carrier to maintain its majority stake.

    It is uncertain how many shares the ministry will purchase, but it "will likely be sufficient to maintain [its] majority shareholding", says a carrier spokeswoman.

    Thai reportedly plans to raise capital by issuing new shares and refinancing. The airline's president Piyasvasti Amranand was quoted in media reports as saying the ministry will purchase half of the new shares to maintain its 51% stake.

    It is unclear how much the airline plans to raise from the recapitalisation, says the spokeswoman.

    "The amount will depend on the expected future investment plan soon to be released," she adds.

    Thai posted a net loss of 21 billion baht ($638 million) in 2008, and has 160 billion Thai baht of debt.

    flightglobal.com

  3. #3
    ding ding ding
    Spin's Avatar
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    Quote Originally Posted by Mid
    Thai posted a net loss of 21 billion baht ($638 million) in 2008, and has 160 billion Thai baht of debt.
    If my calculations are correct that's 4.8 billion U$D

    Time to pull the plug on the life support machine, the patient is dead.

  4. #4
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    Quote Originally Posted by Spin View Post
    Quote Originally Posted by Mid
    Thai posted a net loss of 21 billion baht ($638 million) in 2008, and has 160 billion Thai baht of debt.
    If my calculations are correct that's 4.8 billion U$D

    Time to pull the plug on the life support machine, the patient is dead.
    Yeah Spin, unfortunate as it might be.....time for TG to call it a day. Perpetual loans and extended credit won't help.

  5. #5
    Days Work Done! Norton's Avatar
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    Thai Air has for too long ignored the changing realities of the business. If they don't change their ways all the loans in the world won't help. Just money down the drain to keep them afloat temporarily.

    JAL and a few others are in the same boat. Asking for loans and government bailouts.
    "Whenever you find yourself on the side of the majority, it is time to pause and reflect,"

  6. #6
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    Quote Originally Posted by Norton View Post
    Thai Air has for too long ignored the changing realities of the business. If they don't change their ways all the loans in the world won't help. Just money down the drain to keep them afloat temporarily.

    JAL and a few others are in the same boat. Asking for loans and government bailouts.
    This is how the corporate world exist. Imaginary wealth. The fakery that is credit, loan after meaningless loan, fiat-state diluents, receivership protection, etc. Free market, indeed.

  7. #7
    Days Work Done! Norton's Avatar
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    Quote Originally Posted by Rural Surin
    Free market, indeed.
    Free if your on the receiving end of big loans and subsidies.

  8. #8
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    Yep!!
    Good enough for them a decent airline a long time ago dragged down by the Nepotism, freeloaders and the ever draining Thai politicians who fly for free.
    Spins right as stated above the patients deed!! as we say in Scotland life support aint working pull the flug and fuck em!!
    "Don,t f*ck with the baldies*

  9. #9
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    They're little more than a regional carrier now. I never consider them any more for long haul flights.

    They now owe billion and billions of dollars now (never mind Baht..) and I believe they are on the hook for a whole bunch of new aircraft (thay they need) but can not afford. They can delay taking delivery - but can't get it off the books entirely.

    I doubt they'll let it go under though - Thai face and all..
    My mind is not for rent to any God or Government, There's no hope for your discontent - the changes are permanent!

  10. #10
    Scene, not herd.
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    Hope they go out of business for sticking me on an old MD11 just a couple of years ago going to Brisvegas, Australia.

    A painful flight and I will take great pleasure in their demise should it ever arise.

    My only annoyance is the Thai people are so controlled and thus not vocal enough about the ridiculous corruption, wastage and expense that these government controlled projects and companies, especially TG seem to wallow in.

  11. #11
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    They can use the money so the new chairman can smuggle shushi.

  12. #12
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    Live your protest. Don't fly TG. This includes domestically.

  13. #13
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    Tom Sawyer's Avatar
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    Beadle - where is Brisvegas Australia? And why would Thai fly anything there (is it code for Brisbane/Gold Coast?)

  14. #14
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    A nonsense airline run by a nonsense country.They should have been out of business by now but as already stated the loss of face would be unimaginable..

    To many airlines now thinking they can capture the business and First Class communities.

    Another ten years and there might be ten world airlines left in operation making a profit.

    I am excluding the budget carriers as some are doing better than others

  15. #15
    Thailand Expat
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    Thai Airways approves up to 20 bln baht debt revamp
    (Reporting by Pisit Changplayngam; Writing Khettiya Jittapong; Editing by Alan Raybould)
    Mon Jan 25, 2010

    BANGKOK, Jan 25 (Reuters) - Thai Airways International THAI.BK said on Monday its board had approved in principle a plan to restructure up to 20 billion baht ($606 million) in debt, which included a bond issue plan.

    Chairman Ampon Kittiampon told reporters the airline planned to restructure short-term debt for long-term debt.

    The airline, which is in the process of overhauling operations and restructuring management, had announced a plan in October to issue new shares in 2010 to raise funds to repay short-term debt.

    ($1=33.02 Baht)

    reuters.com

  16. #16
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    Quote Originally Posted by Tom Sawyer View Post
    Beadle - where is Brisvegas Australia? And why would Thai fly anything there (is it code for Brisbane/Gold Coast?)
    Brisvegas is Brisbane.
    Foked if I know why they call it that, there's exactly 1 casino there.

  17. #17
    Twitter #BKKTS
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    Quote Originally Posted by The Muffinman View Post
    Quote Originally Posted by Tom Sawyer View Post
    Beadle - where is Brisvegas Australia? And why would Thai fly anything there (is it code for Brisbane/Gold Coast?)
    Brisvegas is Brisbane.
    Foked if I know why they call it that, there's exactly 1 casino there.
    Are there many Casinos on Gold Coast? Sorry I could google I guess - can't be bothered and I don't find Aus that interesting really - though maybe I should - it's kind of Canada with better weather and nicer/hotter beaches than the USA no? (pretty good I guess..!) - but women kinda fatter than anywhere..right?

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