Rehabilitation Plan Advancement: Thai Airways Achieves Debt Conversion Success
Rehabilitation Plan Advancement: Thai Airways Achieves Debt Conversion Success
Thai Airways International Public Company Limited (THAI), our premium member, has successfully reduced its debt burden and strengthened financial stability by converting debt into shares, investing in fleet upgrades and structural adjustments for long-term efficiency and profitability. This achievement marks a crucial step toward Thai Airways’ path to stability and growth.
Thai Airways International Public Company Limited has successfully converted debt into equity, reducing its debt burden and strengthening financial stability. The company is moving forward with its rehabilitation plan, offering up to 9.8 billion new shares at Baht 4.48 each. Subscriptions will be open from 6-12 December 2024, for existing shareholders, employees, and select investors.
This milestone marks a key step in Thai Airways’ recovery, with debt and accrued interest successfully converted into shares, enhancing financial health. The new share issuance aims to bolster the company’s capital base, supporting its sustainable growth strategy.
Operational performance has shown improvement, with rising passenger numbers and strategic investments in fleet upgrades and structural adjustments. Despite a slight dip in revenue, these initiatives aim to strengthen long-term efficiency and profitability.
Mr. Piyasvasti Amranan, Chairman of the Plan Administrator, highlighted this achievement as a crucial step toward Thai Airways’ path to stability and growth
The company targets relisting on the Stock Exchange of Thailand (SET) by Q2 2025, with capital restructuring expected to conclude by year-end 2024. A shareholders’ meeting will appoint a new board, followed by a petition to terminate the rehabilitation process.
Thai Airways remains committed to its vision, “Fly for The New Pride,” driving sustainable growth and customer confidence.
About Thai Airways
Thai Airways International Public Company Limited (THAI) is a public company registered in The Securities Exchange of Thailand since 1991, with the Ministry of Finance as a dominant shareholder of 47.86 percent.
THAI operates the airlines business as a full-service carrier, which provides the transportation for passengers, goods, parcels and postal through our domestic and international routes, including a warehousing service, ground handling service, ground equipment services, in-flight catering and aircraft maintenance services. THAI and its alliance have a network of routes covering 30 countries around the world. Throughout the period of more than 60 years in the airline business, THAI aims to focus on safety and quality of service with THAI touches for passenger comfort throughout the journey which have made THAI become one of the best airlines in the world guaranteed by the various awards of recognition.
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