Mr. Chansilp Treinuchakorn, Acting President of Thai Airways International Public Company Limited THAI, said the situation of the COVID-19 epidemic Resulting in all airlines Including Thai Airways Inability to fly normally
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In addition, the global airline business is faced with a severe contraction crisis. From international travel restrictions Resulting in the Company’s cash flow Continuous decline Until not enough that the company Will return to start flying By Thai Airways has put in its best efforts in earning money from many ways such as
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– Arrangement of flights to pick up Thai people back home
– Cargo flights
– To earn extra income from the business unit that is not the airline (Non-Air) as follows
1. Revenue from the restaurant business of the Aviation Kitchen Department
2. Providing airline customer service of the ground customer service department. And the Ground Equipment Service Department, Technician Department
3. Income from selling products in Thai Shop
4. Income from the Eurng Luang tour of commercial airlines
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With the aforementioned reasons The Company therefore submitted a request for permission to sell certain assets which are not the main assets necessary for the debtor’s aviation business. Or is an unused property Or if kept, but will only be depreciated As well as causing an increase in maintenance expenses of 4 items, which are
1. Nok Air shares
2. shares of Bangkok Aviation Fuel Services Public Company Limited or BAFS
3. Engines of Boeing 737-400 aircraft that are not in use (number of five)
4. Laksi Training Center Building The Central Bankruptcy Court made an inquiry and issued an order allowing the property to be sold. Under the supervision of the official receiver is completed
Mr. Chansilp said the company had to announce the sale of the Laksi Training Center building in Bangkok. Because in the work of flying in each flight The company is required to have a certain amount of money available to pay to the seller of goods or to provide services. Which is the cost associated with operating the flight on that flight When the COVID-19 situation eases and the restrictions on the opening of airspace in Thailand and abroad are allowed until flying is allowed.
However, if Thai Airways is unable to return to flight In addition to losing the opportunity to generate income from the aviation business. Which is the main business that the company has already strengthened Also may lose the right to fly and flight schedule (Flight Slot) in different countries Which is considered one of the assets that cannot be assessed as the essence of the business of Thai Airways. If allowing such damage Will cause the company to lose competitiveness permanently And it certainly has an impact on the opportunity for the Company’s business rehabilitation.
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However, such damage if let it happen. Surely difficult to heal The proceeds from the sale of the property will be used to operate the aviation business. To extend and generate income for the company Or use it in business operations within the scope of the legal proceedings.
For office building, training center, Laksi area It is one item of assets that have been sold under the order of the Bankruptcy Court in the Company’s business reorganization case. In which the sale will be done by submitting an envelope to bid The Company offered to sell land and buildings of Laksi Training Center. Excluding items that are not land and building components And exclude other real estate of the company located in the building area
The offer for sale in the current nature and condition “as is-where is” means that the bidder must not demand the Company to construct, modify or demolish any building and structures on the land and Laksi training center. Total area of 19 rai 3 ngan 26 square wah or 7,926 square wah
Anyone interested can contact TOR from today until 25 Feb’21 and from 1 to 26 Mar. 64 by email to [email protected].
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