webfact Posted January 27, 2021 Share Posted January 27, 2021 THAI seeks second deadline extension for rehab plan By The Nation THAI’s acting president Chansin Treenuchagron Thai Airways International (THAI) will this week ask the bankruptcy court to extend its deadline for submission of its rehabilitation plan by another one month, THAI’s acting president Chansin Treenuchagron said on Tuesday. This is the second time the debt-ridden carrier has asked for a deadline extension. Previously, the court granted THAI’s request to postpone deadline from January 2 to February 4. By law, the carrier can postpone its submission only twice. According to a THAI source, the airline will ask the court to extend the deadline to March 3. The company needs more time to forge a rehab plan that creditors can be confident in, said the source. Source: https://www.nationthailand.com/business/30401843 -- © Copyright The Nation Thailand 2021-01-27 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 1 1 Link to comment Share on other sites More sharing options...
Popular Post PatOngo Posted January 27, 2021 Popular Post Share Posted January 27, 2021 (edited) RIP Thai Airways! Smooth as Gravel! Edited January 27, 2021 by PatOngo 2 2 Link to comment Share on other sites More sharing options...
mtls2005 Posted January 27, 2021 Share Posted January 27, 2021 I think that there are at least five-year's worth of extensions in the bankruptcy agreement. That TG is late departing is hardly shocking. Time for the black paint I think? 1 Link to comment Share on other sites More sharing options...
Popular Post Misterwhisper Posted January 27, 2021 Popular Post Share Posted January 27, 2021 Note to Mr. Chansin: If a patient has practically expired well over one year earlier, no "rehab" plan in the world is going to bring him back to life, and no matter how many extensions are asked to hammer out some half-baked scheme that is designed for the sole purpose of keeping creditors at bay; at least for a while. It would be very interesting to explore how much salary Mr. Chansin and a whole slew of other "executives" pocket every month for their selfless work trying to once again safe a company that over the past two decades has repeatedly skidded from debt crisis to debt crisis primarily thanks to utter mismanagement, corruption and cronyism. 3 Link to comment Share on other sites More sharing options...
Popular Post Cake Monster Posted January 27, 2021 Popular Post Share Posted January 27, 2021 Should have a " DNR " slapped on them. 1 2 Link to comment Share on other sites More sharing options...
Mr Meeseeks Posted January 27, 2021 Share Posted January 27, 2021 Another Thai boondoggle. How much is the debt now? THB 400 billion? Link to comment Share on other sites More sharing options...
Popular Post trainman34014 Posted January 27, 2021 Popular Post Share Posted January 27, 2021 They are clueless how to put a plan together otherwise it would have been done as fast as possible to keep the whole thing afloat. Just delaying the Funeral ! 4 Link to comment Share on other sites More sharing options...
AgMech Cowboy Posted January 28, 2021 Share Posted January 28, 2021 Tough to know the financial future when hardly any planes are flying. Cut them so slack, but cut off the 'fat'. Link to comment Share on other sites More sharing options...
Sydebolle Posted January 28, 2021 Share Posted January 28, 2021 While they cook the books 24/7 to make everybody looking nice and smell like a daisy ....... others fly. Thai Vietjet is operating on Fifth Freedom, i.e. homebred in Hanoi, they operate domestic flights in a third country - namely Thailand. Bottomline of a vVietnamese press release referred to "just break even in 2020". All the while the entire fleet of the national carrier is grounded, standing around and getting ready to be auctioned off to the highest bidder in the world's biggest buyers market since World War 2. In addition, all those aircrew will have lost their licenses as they could not comply with minimum flying hours. And all this just to cover the bottoms of a few bigwigs who misused Thai Airways like a 7/11 without a cashier at the exit. Masterpiece for universities of how NOT to do it - for generations to come! 1 Link to comment Share on other sites More sharing options...
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