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MONDAY, November 28, 2022
Eight airlines seek over Bt24 billion in soft loans from government

Eight airlines seek over Bt24 billion in soft loans from government

FRIDAY, April 17, 2020

With the recent addition of NokScoot, eight airlines are seeking low-interest loans from the government and the total amount sought has risen to Bt24.15 billion due to the Covid-19 impact, a source said on Thursday (April 16).

The group had on March 26 asked Ministry of Finance for loans totalling Bt16 billion to help seven airlines who had suffered due to Covid-19. The eighth airline, NokScoot, later decided to also apply for the loan, prompting the group to send a fresh letter to the Ministry of Finance, increasing the sought loan amount to Bt24.15 billion.

The eight airlines and the loans they seek are:

  • ▪︎ Bangkok Airways, Bt3 billion
  • ▪︎ Thai AirAsia, Bt4.5 billion
  • ▪︎ Thai AirAsia X, Bt3 billion
  • ▪︎ Thai Lion Air, Bt3.75 billion
  • ▪︎ Thai Vietjet Air, Bt900 million
  • ▪︎ Thai Smile, Bt1.5 billion
  • ▪︎ Nok Air, Bt4 billion
  • ▪︎ NokScoot, Bt3.5 billion

The airlines have asked for an interest rate of 2 per cent for five years, with the first payment of principlal and interest scheduled for January 2021.
To keep their businesses afloat and retain the services of over 30,000 employees, the airlines will need the government to disburse 25 per cent of the total loan amount within April.