Creditors of Thai Airways approve reorganization plan news4jax.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news4jax.com Daily Mail and Mail on Sunday newspapers.
Outbreak reduces travel demand in first quarter
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published : 19 May 2021 at 06:39
Airlines faced another setback in the first quarter as the continued pandemic stunted travel demand.
Puttipong Prasarttong-Osoth, president of Bangkok Airways, said the airline adjusted flight frequencies to meet passenger demand during the new wave, which caused the number of domestic flights to drop 85.6% year-on-year.
The airline closed the first quarter with revenue of 1.36 billion baht, a sharp decrease of 78.8% year-on-year, while the average load factor stood at 58.8% with 151,900 passengers, down 88.5%.
Bangkok Airways posted a net loss of 757 million baht, compared with a loss of 339 million in the same period last year.
The Federation of Thai Industries (FTI) is bringing back its "Faster Payment" scheme to urge large companies to speed up debt repayments in a fresh attempt to help their trading partners mostly small and medium-sized enterprises (SMEs) solve liquidity problems amid Covid-19.
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Creditors of Thai Airways approve reorganization plan
Thai Airways International has announced in a filing to the Stock Exchange of Thailand that creditors holding 91.56% of the airlineâs debt have approved the company s reorganization plan
ByThe Associated Press
⢠2 min read
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BANGKOK Creditors of Thai Airways International holding 91.56% of the airlineâs debt have approved a business reorganization plan, the company announced Wednesday in a filing to the Stock Exchange of Thailand.
The plan, including three amendments added in consultation with the creditors, now needs final approval by Thailandâs Central Bankruptcy Court on May 28.
Creditors of Thai Airways approve reorganization plan startribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from startribune.com Daily Mail and Mail on Sunday newspapers.