Prayut praises THAI as it begins to spread its clipped wings
Caretaker Prime Minister General Prayut Chan-o-cha on Friday praised executives and employees of Thai Airways International (THAI) as the national flag carrier reported 50 billion baht of reserves this year after entering a business rehabilitation plan more than two years ago.
Prayut visited THAI’s headquarters in Bangkok’s Chatuchak district on Friday along with Deputy Prime Minister Wissanu Krea-ngam, Energy Minister Supattanapong Punmeechaow, Finance Minister Arkhom Termpittayapaisith, and PM’s Office Minister Thanakorn Wangboonkongchana.
After viewing a presentation on the progress of THAI under its rehabilitation plan over the past year, Prayut thanked the airline’s executives and employees for their hard work and cooperation with the plan, saying it had resulted in the airline being able to exit its rehabilitation sooner than expected.
“This 50-billion-baht reserve is a sign of progress and a positive trend. We must spend this money carefully while continuing to manage debts,” the outgoing premier said.
Before leaving, Prayut also participated in flight-simulation training for a Boeing 777-3000ER.
Earlier this month, THAI CEO Chai Eamsiri told Thai-language news outlet Thansettakij that he was confident the national flag carrier would be able to exit rehabilitation by the third quarter of next year, sooner than the 2025 deadline.
Chai said THAI and its Thai Smiles subsidiary had seen improved business performance during the first five months of this year.
The airline filed for bankruptcy protection in late 2019 after reporting debts of 245 billion baht. The Cabinet in May 2020 gave the rehabilitation plan the green light under the Bankruptcy Act, which was later approved by the Central Bankruptcy Court.
