As Airline Shows Sustained Growth, THAI Files Plan Amendment Petition

After earning significant revenue since November of last year and as air ticket booking continues to grow in demand, the national flag carrier airline of Thailand, Thai Airways International, has filed a plan amendment petition to build confidence for its airline business to recover. End Quote

(1888PressRelease) August 08, 2022 - A number of factors have led to the filing, including an easing of COVID-19 restrictions and international travel measures, local government preventative measures, and the border reopening in Thailand, which have all increased demand for travel and air ticket bookings – leading to THAI’s highest liquidity in 24 months.

Significant daily passenger increases on both Thai Airways and subsidiary airline Thai Smile has seen cabin factor increase to 75%, while Cargo revenue for THAI has increased by 41% compared to the same period in 2019.

Notable progress has been made in THAI’s business reorganization to support sustainable growth, while the airline has been additionally developing new products including cargo charter flight services.

The improving control measures, increase in airline ticket booking revenue, and internal operational improvements has led THAI’s cash flow levels to increase, causing demand for new loans to decrease from the original plan.

The plan amendment includes areas involving new term loans, increasing capital registration, repayment, and revisions to the details in the success of the plan. The Plan Administrator is confident that the submission of the plan amendment will enhance the confidence of THAI’s creditors, shareholders, passengers, and customers alike.

THAI views the plan amendment as a significant step in laying the foundation for profit-making capability, and as a main resource to support and promote the recuperation of the Thai economy going forward.

For more information and details on THAI’s plan amendment petition, or for airline ticket booking, visit the Thai Airways website.

http://www.thaiairways.com

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Visit Thai Airways International Public Company Limited Website

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