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Thai Cabinet to consider THAI rehabilitation plan

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.
Thai Cabinet to consider THAI rehabilitation plan ảnh 1Illustrative image (Photo: https://www.pattayamail.com/)

Bangkok (VNA) - A State Enterprise Policy Committee meeting on May 18approved a rehabilitation plan for Thai Airways International to solve thecarrier’s financial difficulties, Prime Minister Prayut Chan-o-cha said.

The committee, chairedby the PM, will propose the resolution to the Cabinet for consideration on May19.

When asked if the plan will proceed under the bankruptcy law, Prayut said thebankruptcy and the rehabilitation plan are not the same thing and the Cabinetwill reveal more details later.

Onceamong the state-owned enterprises gaining profits in Thailand, THAI is now in debtof nearly 300 billion THB (nearly 10 billion USD). The national flag carrier reporteda net loss of 2.11 billion THB in 2017, and this figure increased to 11.6billion THB in 2018 and 12 billion THB in 2019. Due to the impact of theCOVID-19 pandemic, THAI has been forced to cease operations until the end of May./.
VNA
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