Thai Airways selling assets to raise cash

Date:

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.

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 245 billion baht 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.

Read more…

editor
Author: editor

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

UNESCO Recognizes Thai Songkran Festival as Cultural Heritage

UNESCO has formally acknowledged the Thai Songkran Festival as...

Sattahip’s Enchanting Waters: A Glimpse into the World of Pink Dolphins

In a recent viral video posted by a Facebook...

Thailand-China Diplomatic Talks Emphasize Collaboration and Mutual Agreements

Deputy Prime Minister and Foreign Affairs Minister, Dr. Parnpree...

Revolutionizing Thai Connectivity: Japan’s High-Speed Rail Initiative Unveiled

In a groundbreaking move for the realm of transportation,...