Thai Airways moves forward with recovery plan Confident at the end of this year Successfully converted debt into equity and sold shares to increase capital. Debt of more than 120 billion baht was cleared in 12 years. Move forward with procurement of 80 aircraft as planned, aiming to have 154 aircraft in 2023, strengthening the business. and support the government policy as an aviation hub in the region
Mr. Piyasawat Amranan Chairman of the Business Rehabilitation Plan Management Committee of Thai Airways International Public Company Limited revealed the progress of implementing the business rehabilitation plan. Thai Airways will convert debt into equity. and complete the sale of additional shares at the end of 2024, then will exit the rehabilitation plan and return to trading on the Stock Exchange of Thailand in 2025 according to the plan. For converting debt to equity Set the selling price of shares at 2.54 baht per share, or approximately 55,000 million baht, including interest, before offering additional shares to existing shareholders in the second half of 2024. If not all are sold, they will be sold to employees. and specific investors (PP) at a price higher than 2.54 baht per share to raise new funds of 25,000 million baht.
As for the debt repayment plan according to the rehabilitation plan, a total of 120,000 million baht is divided into debt from issuing bonds of 72,000 million baht, debt from financial institutions of 30,000 million baht and other debts of 10,000-20,000 million baht. The payment will begin at 10,000 million baht per year from this year onwards. for 12 years. As for ticket debt, 2 groups are passengers who come to apply for debt repayment. And the group that did not apply for a total of 13,000 million baht is currently repaying debts until the remaining debt is 400 million baht and will complete the payment on March 31. As for passengers who cannot be contacted, The money will be placed at the Legal Execution Department. To express your intention to continue paying the debt.
For the procurement of aircraft, the procurement contract was recently signed with Boeing Company and GE Aerospace Company to supply 45 Boeing 787 Dreamliner aircraft with GEnx engines, including the right to procure additional aircraft up to a total of 80 aircraft. It is confirmed that it will definitely not affect the financial status. by procurement model Possibility of renting, leasing and buying is currently being considered. It is expected that there will be clarity in 2025.
“This procurement of aircraft It does not affect our financial status and does not affect debt repayment according to the rehabilitation plan. If looking at the current financial situation, 45 boats can be bought with cash. Because the payment was not made once, but was paid gradually and when the plane was received. They can be used to generate income immediately. If 80 aircraft are procured as planned, there will be a fleet of 154 aircraft in 2013, supporting the government’s policy of being a regional aviation hub.”
In addition, it is confirmed that the government does not use taxpayer money to subsidize Thai Airways. The government has not provided subsidies for 13 years, while during Covid. The government did not provide financial aid. or subsidized like other airlines As for the majority shareholding of the Ministry of Finance The Ministry has already received quite a dividend. For 2024, it is estimated that Thai Airways will transport 15 million passengers, have an average cabin factor of 80% and have income similar to 2019 before Covid with a total income of 184,046 million baht because it will receive aircraft delivery. Rented 9 additional aircraft, totaling the fleet to 79 aircraft, but there is still a risk that the average fare will decrease due to more intense competition. Oil prices are still as high as $110-120 per barrel. and exchange rates are highly volatile.
2024-02-26 22:07:00
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