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THAI airways to sell assets to raise more funding


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THAI airways to sell assets to raise more funding

 

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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/

 

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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?

 

 

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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?

 

 

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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.

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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.

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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...

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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 

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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...:whistling:

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12 hours ago, webfact said:

THAI airways to sell assets to raise more funding

 

B5236D12-814C-4691-AD33-7023617060E9.jpg

 

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/

 

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Let me check my Bank account.555555:cheesy:

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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🤣

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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?

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