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webfact

Nearly 6,000 THAI staff to be laid off

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Nepotism and total ineptitude has driven a once good airline into the ground. But you'll never get the knobs at the top to admit it.

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5 minutes ago, Fex Bluse said:

The bankruptcy court will allow authorities to seize other Thai assets. Also, they may be banned from future purchase of aircraft. They cannot hide. 

It is difficult to know exactly what will happen under the rehabilitation plan, but as far as I am aware the reason to rehabilitate under the bankruptcy court is exactly to afford them protection from creditors - i.e. creditors cannot seize their assets while the process is ongoing.

The fact that they are doing this inside Thailand rather than also filing for chapter 11 etc. leaves it open to interpretation as to whether creditors could get a local court order and seize Thai assets outside of Thailand

It would be wise not to pay for a trip from Paris to Bangkok on Thai as the plane may not take off.

In all seriousness though, one of the first settlements they will try to achieve is with the aircraft easing in order that the company can still fly once restrictions are eased and some cashflow can come in - but of course this would be a sensible thing to do.

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1 hour ago, ThailandRyan said:

Do you not remember the 3 female attendants who were nailed by customs not that long ago....

Er, I trust that is not to be taken in a slang sense......😎

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4 minutes ago, crobe said:

It is difficult to know exactly what will happen under the rehabilitation plan, but as far as I am aware the reason to rehabilitate under the bankruptcy court is exactly to afford them protection from creditors - i.e. creditors cannot seize their assets while the process is ongoing.

The fact that they are doing this inside Thailand rather than also filing for chapter 11 etc. leaves it open to interpretation as to whether creditors could get a local court order and seize Thai assets outside of Thailand

It would be wise not to pay for a trip from Paris to Bangkok on Thai as the plane may not take off.

In all seriousness though, one of the first settlements they will try to achieve is with the aircraft easing in order that the company can still fly once restrictions are eased and some cashflow can come in - but of course this would be a sensible thing to do.

You are absolutely right. But, if Thai (or the government) think they can disregard demands of the to be agreed plan, what I'm saying is that there will be consequences. 

 

They cannot simply shun responsibility like they have in their dealings with other issues, like Australia mining companies and Hong Kong property and development conglomerates. 

 

If they play their games with these creditors after agreeing to a rehab plan, their assets overseas will be seized. 

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What will happen to people who have retired and receive a pension?

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Posted (edited)
1 hour ago, scorecard said:

So what's your guess?

Just one of many articles you can locate regarding the smuggling of goods.

 

https://www.asiaone.com/asia/thai-airways-cracks-down-smuggling-its-flight-attendants

 

https://www.paddleyourownkanoo.com/2019/09/08/thai-airways-flight-attendant-caught-trying-to-smuggle-gucci-belts-from-italy-under-her-uniform/

Edited by ThailandRyan

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Oh oh, what are those generals who fly gonna do now?

get out your credit card hier heneral! 

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2 hours ago, webfact said:

Ministry of Finance to sell its majority stake in the airline.

 

Who is going to be buying ......

regards Worgeordie

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2 hours ago, steven100 said:

I don't think the international creditors will be very happy

Creditors, either international or domestic, seldom are.

 

Employees too.

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If it comes about TG 2.0 will have a very difficult time trying to operate.  Every company and airport will want payment up front.  Absolutely no credit will be afforded to them.

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2 minutes ago, worgeordie said:

Who is going to be buying ......

regards Worgeordie

Vayapuk - local Thailand pension fund

You can tell who they are, they are the ones with the CEO who has his arm twisted up his back

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Sad for the lower level staff that will be losing their jobs. I imagine none of the umpteen board members THAI employ will be losing their salaries for the time being. 

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