Illustrative image (Photo: https://www.pattayamail.com/) Bangkok (VNA) - A State Enterprise Policy Committee meeting on May 18 approved a rehabilitation plan for Thai Airways International to solve the carrier’s financial difficulties, Prime Minister Prayut Chan-o-cha said.
The committee, chaired by the PM, will propose the resolution to the Cabinet for consideration on May 19.
When asked if the plan will proceed under the bankruptcy law, Prayut said the bankruptcy and the rehabilitation plan are not the same thing and the Cabinet will reveal more details later.
Once among the state-owned enterprises gaining profits in Thailand, THAI is now in debt of nearly 300 billion THB (nearly 10 billion USD). The national flag carrier reported a net loss of 2.11 billion THB in 2017, and this figure increased to 11.6 billion THB in 2018 and 12 billion THB in 2019. Due to the impact of the COVID-19 pandemic, THAI has been forced to cease operations until the end of May./.
VNA
