Government bailout a ‘last chance’ for Thai Airways
Cash-strapped national carrier Thai Airways is in the last chance saloon.
Thailand’s PM issued a stark warning to the airline’s management not to squander its latest bailout.
"This is the last time that Thai Airways will receive support from the government. If the situation worsens, there will be a complete structural overhaul of the airline," General Prayut Chan-o-cha said.
The Finance Ministry agreed to a THB54 billion (US$1.8 billion) bailout and up to THB80 billion in a recovery loan.
Prayut said the airline ‘must achieve 10 goals and not waste the government-backed loan.’
Conditions form part of a cost-cutting restructuring plan which will lead to a leaner airline business.
Its fleet size will be gradually reduced from 103 to 84 planes by 2024, and loss-making routes and possibly staff numbers will be cut.
The national carrier has been in financial trouble long before the Covid-19 outbreak started and has been making a loss for the past few years.
The bailout is still awaiting full cabinet approval.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025