webfact 86030 Posted February 24 Share Posted February 24 THAI airways to sell assets to raise more funding THAI airways is selling its Laksi training center building, in the Bangkhen district of Bangkok, its Nok-Air shares, its Bangkok Aviation Fuel Services (BAFS) shares and Boeing 737- 400 engines, after the bankruptcy court gave the go-ahead to do so. THAI airways has been hit hard by limited travel due to the COVID-19 pandemic, which comes as they were entered bankruptcy protection and sit on the verge of liquidation. The acting director of THAI airways, Chansin Treenuchagron, said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income, or to be used as permitted by law. Full story: https://www.thaipbsworld.com/thai-airways-to-sell-assets-to-raise-more-funding/ -- © Copyright Thai PBS 2021-02-25 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Link to post Share on other sites
Popular Post Justgrazing 20870 Posted February 24 Popular Post Share Posted February 24 7 minutes ago, webfact said: The acting director of THAI airways, Chansin Treenuchagron, said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income, Delux doughnuts then .. 1 10 Link to post Share on other sites
Popular Post welshguy 312 Posted February 24 Popular Post Share Posted February 24 Ah good good! I may get my ticket money refunded , for my cancelled! flight last September? There again, I may win the euro lottery this weekend,? I may have an army of nubile young nymphs knocking my door every day until I die.................. Then again? Maybe I wont! 11 7 Link to post Share on other sites
Popular Post RichardColeman 30384 Posted February 24 Popular Post Share Posted February 24 41 minutes ago, webfact said: said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income As opposed to settling its debt ? 14 1 Link to post Share on other sites
Popular Post Fex Bluse 8805 Posted February 25 Popular Post Share Posted February 25 The Thai PBS article says THAI has been hit hard by limited travel. @sandyf, this is really surprising since the Thai domestic tourism should have been able to make up the loss of international passengers... Right? ALSO, I have a far better business plan for THAI than selling old bindings in the Bangkok. THAI should open a massage place with all their unemployed flighty attendants. THAT will make money! 4 2 13 2 Link to post Share on other sites
Popular Post realfunster 1599 Posted February 25 Popular Post Share Posted February 25 This doesn’t seem too different from this release in 2016 https://www.ddproperty.com/en/property-news/2016/1/116000/thai-airways-will-sell-its-domestic-and-international-properties (Note properties owned by Thai in London, Sydney, Singapore, Rome, Madrid etc. What the hell were they doing...? Rhetorical question.) Anyway, obviously that didn’t go well, as most of those Thai properties are still on the market 5 years later ! https://www.thaiairways.com/en_TH/about_thai/company_profile/test_pfs.page This mess could take years to sort out and is a total embarrassment to Thailand. 4 Link to post Share on other sites
Popular Post Misterwhisper 16331 Posted February 25 Popular Post Share Posted February 25 Maybe they also could sell off some of their overpaid executives... to fishing trawler skippers in Samut Sakhon, for example... now that all the Burmese are quarantined. 6 2 Link to post Share on other sites
Srikcir 14822 Posted February 25 Share Posted February 25 Maybe the Thai Treasury should raise more funding to offset the economic affects of covid-19 by selling its majority stake in THAI. 1 1 Link to post Share on other sites
Popular Post hotchilli 18696 Posted February 25 Popular Post Share Posted February 25 4 hours ago, webfact said: The acting director of THAI airways, Chansin Treenuchagron, said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income, or to be used as permitted by law. To pay-off some debts would be nice. 3 Link to post Share on other sites
mtls2005 17289 Posted February 25 Share Posted February 25 4 hours ago, webfact said: its Laksi training center building, in the Bangkhen district of Bangkok Wonder what this on the books for? And what it will sell for? And to whom? Link to post Share on other sites
hotchilli 18696 Posted February 25 Share Posted February 25 4 hours ago, Justgrazing said: Delux doughnuts then .. But still no jam. 1 Link to post Share on other sites
Popular Post Katipo 5355 Posted February 25 Popular Post Share Posted February 25 I wonder if all 740 executives had a say in this decision? 1 2 Link to post Share on other sites
Popular Post Cadan 120 Posted February 25 Popular Post Share Posted February 25 Where can you find approx. values and remaining debt after selling these assets ? There will be lots of commission to be made and shared so no worries. Business as usual 3 Link to post Share on other sites
Popular Post Disparate Dan 238 Posted February 25 Popular Post Share Posted February 25 sell off assets? They've been trying for years already (since way before the Panic) to offload dozens of useless gas-guzzling aircraft they can't fill, that were only purchased with the help of very big brown envelopes, and they couldn't do that either. 4 Link to post Share on other sites
mtls2005 17289 Posted February 25 Share Posted February 25 5 minutes ago, Cadan said: Where can you find approx. values and remaining debt after selling these assets ? The "plan" should be made public after 2 or 3 March. Then it can be analyzed. This yard sale would barely make a dent in the debt, or provide operating cash for more than a month or two? Link to post Share on other sites
Popular Post Patong2021 1154 Posted February 25 Popular Post Share Posted February 25 44 minutes ago, Fex Bluse said: The Thai PBS article says THAI has been hit hard by limited travel. @sandyf, this is really surprising since the Thai domestic tourism should have been able to make up the loss of international passengers... Right? ALSO, I have a far better business plan for THAI than selling old bindings in the Bangkok. THAI should open a massage place with all their unemployed flighty attendants. THAT will make money! Thai Airways is primarily an international airline. Prior to Covid shutdown iits domestic business was much smaller than its inernational. . How would you expect an international airline which flies widebodies with 300-500 pax to compensate for that loss with narrow bodies that carry 162-168 pax? If you look at domestic market share; Air Asia -35%, Thai Lion - 20% - Nok -18%. This leaves less than 30% of domestic market to Thai subsidiary Thai Smile. I don't think you are are fair and honest to Thai Airways. 2 1 Link to post Share on other sites
Popular Post DUNROAMIN 854 Posted February 25 Popular Post Share Posted February 25 (edited) Time to wake up to the real world Thai Airways, over rated and over priced. Edited February 25 by DUNROAMIN 7 Link to post Share on other sites
johnarth 478 Posted February 25 Share Posted February 25 more stupidly to protect the rich, but it is a down hill slide this time 2 Link to post Share on other sites
Peterphuket 659 Posted February 25 Share Posted February 25 6 hours ago, welshguy said: Ah good good! I may get my ticket money refunded , for my cancelled! flight last September? There again, I may win the euro lottery this weekend,? I may have an army of nubile young nymphs knocking my door every day until I die.................. Then again? Maybe I wont! I'm first, sinds March. 1 Link to post Share on other sites
Andrew65 3715 Posted February 25 Share Posted February 25 1 hour ago, Patong2021 said: Thai Airways is primarily an international airline. Prior to Covid shutdown iits domestic business was much smaller than its inernational. . How would you expect an international airline which flies widebodies with 300-500 pax to compensate for that loss with narrow bodies that carry 162-168 pax? If you look at domestic market share; Air Asia -35%, Thai Lion - 20% - Nok -18%. This leaves less than 30% of domestic market to Thai subsidiary Thai Smile. I don't think you are are fair and honest to Thai Airways. Up until about 20 years ago Thai had a virtual monopoly on domestic flights. Link to post Share on other sites
scorecard 21637 Posted February 25 Share Posted February 25 2 hours ago, realfunster said: This doesn’t seem too different from this release in 2016 https://www.ddproperty.com/en/property-news/2016/1/116000/thai-airways-will-sell-its-domestic-and-international-properties (Note properties owned by Thai in London, Sydney, Singapore, Rome, Madrid etc. What the hell were they doing...? Rhetorical question.) Anyway, obviously that didn’t go well, as most of those Thai properties are still on the market 5 years later ! https://www.thaiairways.com/en_TH/about_thai/company_profile/test_pfs.page This mess could take years to sort out and is a total embarrassment to Thailand. So it's old/very old news dressed up to look like a new initiative... Link to post Share on other sites
Mayhem11 150 Posted February 25 Share Posted February 25 Successful public divestments mean big bonuses for blah blah blah 1 Link to post Share on other sites
Cake Monster 5408 Posted February 25 Share Posted February 25 " Thai " could always sell Franchises for their Doughnuts and Custard. Probably one of the best assets they posses at this moment in time. 1 Link to post Share on other sites
kiwikeith 1901 Posted February 25 Share Posted February 25 2 hours ago, Fex Bluse said: The Thai PBS article says THAI has been hit hard by limited travel. @sandyf, this is really surprising since the Thai domestic tourism should have been able to make up the loss of international passengers... Right? ALSO, I have a far better business plan for THAI than selling old bindings in the Bangkok. THAI should open a massage place with all their unemployed flighty attendants. THAT will make money! You could get a flappy ending 2 Link to post Share on other sites
Popular Post Andrew65 3715 Posted February 25 Popular Post Share Posted February 25 3 hours ago, Fex Bluse said: The Thai PBS article says THAI has been hit hard by limited travel. @sandyf, this is really surprising since the Thai domestic tourism should have been able to make up the loss of international passengers... Right? ALSO, I have a far better business plan for THAI than selling old bindings in the Bangkok. THAI should open a massage place with all their unemployed flighty attendants. THAT will make money! Air Asia has far better looking stewardesses than Thai. Many Thai stewardesses are in their 40's & 50's. 2 1 Link to post Share on other sites
Sydebolle 4004 Posted February 25 Share Posted February 25 Thai Airways = like a 7/11 without a cashier at the exit ........... everyone can help themselves now! 1 Link to post Share on other sites
khunPer 6438 Posted February 25 Share Posted February 25 7 hours ago, welshguy said: I may have an army of nubile young nymphs knocking my door every day until I die... That might be worth to wish for... Link to post Share on other sites
jomtienisgood 503 Posted February 25 Share Posted February 25 12 hours ago, webfact said: THAI airways to sell assets to raise more funding THAI airways is selling its Laksi training center building, in the Bangkhen district of Bangkok, its Nok-Air shares, its Bangkok Aviation Fuel Services (BAFS) shares and Boeing 737- 400 engines, after the bankruptcy court gave the go-ahead to do so. THAI airways has been hit hard by limited travel due to the COVID-19 pandemic, which comes as they were entered bankruptcy protection and sit on the verge of liquidation. The acting director of THAI airways, Chansin Treenuchagron, said that the funding derived from this sales of assets is for the business operations and investment in projects which can create further income, or to be used as permitted by law. Full story: https://www.thaipbsworld.com/thai-airways-to-sell-assets-to-raise-more-funding/ -- © Copyright Thai PBS 2021-02-25 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates Let me check my Bank account.555555 Link to post Share on other sites
jomtienisgood 503 Posted February 25 Share Posted February 25 6 hours ago, Patong2021 said: Thai Airways is primarily an international airline. Prior to Covid shutdown iits domestic business was much smaller than its inernational. . How would you expect an international airline which flies widebodies with 300-500 pax to compensate for that loss with narrow bodies that carry 162-168 pax? If you look at domestic market share; Air Asia -35%, Thai Lion - 20% - Nok -18%. This leaves less than 30% of domestic market to Thai subsidiary Thai Smile. I don't think you are are fair and honest to Thai Airways. I did my best, I flew to Khon Kaen return last week. 555555 Link to post Share on other sites
KannikaP 1720 Posted February 25 Share Posted February 25 7 hours ago, Srikcir said: Maybe the Thai Treasury should raise more funding to offset the economic affects of covid-19 by selling its majority stake in THAI. To whom? Link to post Share on other sites
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