Open plan for rehabilitation of ‘Thai Airways’ flood debt of 4.1 hundred billion, pulling’ Piyasawat-Chakkrit ‘to manage 50% of employees’ labor reduction in 2 years. “Charn Sin” prepares creditors meeting on 12 May. Rehabilitation through July ’64
Mr.Chansilp Treinuchakorn, Acting President of Thai Airways International Public Company Limited, revealed that according to the Central Bankruptcy Court ordered Thai Airways to rehabilitate the business and set up a plan maker on September 14, 2020 on the 2nd. March Thai Airways has completed the rehabilitation plan.
Initially, Thai Airways submitted a 303-page rehabilitation plan to the Legal Execution Department. The creditors meeting is scheduled to consider the rehabilitation plan on May 12, 2021 at 9:00 am at the Thammasat Convention Center. Thammasat University, Rangsit Center
It is expected that after the creditors meeting is completed, the rehabilitation plan will be submitted through June – July 2021. Mr. Piyasawat Amranant and Mr. Jakkrit Parapantakul are the executives of the plan to continue to manage and manage the business under the business rehabilitation process.
Mr Chansil said that Thai Airways will reduce costs in all parts of the business even more. Including adjusting the work of the organization into 9 core principles in the overhaul of the organization, for example, the personnel cost of up to 30,000 million baht per year must not exceed 12 billion baht per year, or reduce employees by more than 50% in 2 years to remain. 1.3-1.5 thousand people, which are expected to reduce total expenses of 50 billion baht by 2022 and are expected to return to profit in 2025.
Reduce non-profit routes Special customer service And reduced aircraft types from 12 to 5 types of 86 aircraft to cut maintenance costs It is expected that when the epidemic of COVID-19 Relax better by 2025.
Mr Chansilp said that for the total debt of Thai Airways is approximately 4.1 billion baht, of which it is the actual debt of approximately 1.7 billion baht, which confirms there is no debt haircut or debt reduction from all creditors. But will pay only the principal Including not paying debts in the first 3 years
In addition, it will ask to increase the capital in the amount of 50 billion baht within 2 years in order to have costs to circulate in the business. In mid-year 2021 or approximately in July. Need to find money into the system, 30,000 million baht for use in operations And compensate employees who resign It may be used to borrow money from financial institutions. Finding a joint venture partner And debt to equity conversion
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