Tuesday, September 21, 2021

business

THAI sells prime properties in bid to generate cash flow


Thai Airways International (THAI) on Saturday announced the sale of its assets at prime locations, such as Lan Luang, Si Lom, Don Mueang and Phuket, to boost cash flow.

6

View

The announcement was made via "TG Property For Sale" Facebook page, which posts properties for sale at several locations in Bangkok, Phuket, Khon Kaen, Udon Thani, and Phitsanulok provinces.


THAI had sought permission from the bankruptcy court to sell the assets.
The company's crew centre in Lak Si, in Bangkok’s Don Muang district, was sold in an auction to Energy Complex, a subsidiary of PTT, for THB1.81 billion.


The flight prohibition order in the "dark red" zones due to the new Covid-19 wave has forced THAI to further curtail its flights. The company is only allowed to operate special flights to transport Thai citizens back to Thailand, cargo flights, and five international flights to Phuket, routing from Frankfurt, Paris, London, Zurich, and Copenhagen. International flights from Copenhagen to Phuket will be temporarily paused from August 1 to September 30.


Thai Airways is currently in the process of financial sourcing under its business rehabilitation plan, which is time consuming, as a result the company is unable to generate enough cash flow. It has had to put its assets up for sale in a bid to stay solvent.


For information on THAI properties on sale, call (02) 545 2176, (081) 813 5968 or email [email protected]

Published : August 01, 2021

By : The Nation