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Govt puts troubled THAI in a spot over recovery plan

May 13. 2020
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By The Nation

Thai Airways (THAI) needs to come up with a better plan to solve its financial problems, including dealing with its massive Bt240-billion debt which might lead to its bankruptcy, a senior official said.

Chayatan Phromsorn, the deputy director of the Office of Transport and Traffic Policy and Planning (OTP), said that Thai Airways’ plan for a turnaround had no clear direction and too many risks in it.

The government also called for an action plan with clarity, which was required for the survival of the airline.

The OTP is expected to reveal a recovery plan for Thai Airways this week, which will show the new direction for the national airline.

Transport Minister Saksayam Chidchob has tasked OTP with studying the effects of the Covid-19 crisis and thoroughly make a plan for the expense and public debt management.

He said the plan had to be clear and complete so that it would not become a burden for the government or the people because 23 risk factors found in the previous plan were not supposed to be there.

Thai Airways must study how other airlines are solving their problems and if it cannot solve the problem, the public will face difficulty as the airline is subsidised by taxpayers' money.

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