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Thai Airways selling assets to raise cash

BANGKOK: Thai Airways International (THAI) is selling 10 properties and buildings around the country in a bid to raise funds to rehabilitate its ailing business, according to an airline source.

COVID-19Coronavirustourismtransport
By Bangkok Post

Wednesday 4 August 2021, 11:30AM


Photo: Bangkok Post

Photo: Bangkok Post

The source said the carrier is looking to offload its largest batch yet of assets to boost cash flow as the company is seeking to restructure B245 billion of debt through payment extensions, interest waivers and debt-to-equity conversions.

The airline has also introduced leave-without-pay schemes and pay cuts for staff.

The 10 properties and buildings slated for sale are scattered in Bangkok and the provinces including Khon Kaen, Chiang Mai, Chiang Rai, Phuket and Phitsanulok.

Dive Supply Co., Ltd.

Buildings to be put on the market are those that served as airline offices.

They include a 4-storey building on Silom Road, an eight-storey office building with six-floor car park building on Lan Luang Road, and a two-storey building called “Rak Khun Thao Fa” on land at Don Mueang airport.

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Sir Burr | 06 August 2021 - 06:41:38

.....and were these two airlines going bankrupt? That was the claim. I'm not denying there are occasional accidents caused by mechanics, but don't see ant connection with the airline's financial status.
Also, any evidence that Thai International are taking short-cuts? Nah....didn't think so.

Christy Sweet | 05 August 2021 - 16:46:19

That BA pilot WAS sucked out almost completely, only saved as his feet got caught in the yoke, causing the plane to dive. Cabin crew disentangled him and held onto his lower legs while he flapped about outside on top of the plane for  20 minutes. He LIVED  through it and flew again. The co pilot was commended and never flew again he was so rattled.

Christy Sweet | 05 August 2021 - 14:53:55

Failure to  grease the elevator (tail control)  jackscrew on  Alaska Air flight 261 brought that MD-83 plane down Jan 2000, killing all on board.  I've seen every episode of  Air Crash Investigation and Mayday- twice. 

Taswegian | 05 August 2021 - 11:46:24

Sir Burr, British Airways BAC One-Eleven 528FL, Flight No. BA 5390. On June 10, 1990, the aircraft suffered explosive decompression at around 17,000 feet. The left hand cockpit window blew out and the pilot would have been sucked out but for the quick thinking of an Air Steward who was present. The windscreen was fitted with bolts that were 0.026 inches too small in diameter. It happens!

Sir Burr | 05 August 2021 - 09:26:20

....and your evidence for this Christie Sweet, is what?

Christy Sweet | 04 August 2021 - 12:49:40

Anytime an airline undergoes financial woes you can be sure shortcuts in maintenance are occurring. Coupled with already lax  oversight and it's a DO NOT FLY. Slight errors in thread width on replacement screws have caused serious mishaps.  

 

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