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Open plan for ‘Thai Airways’ flood debt rehabilitation of 4.1 billion, pulling ‘Piyasawat-Chakkrit’ to manage 50% reduction in employee workforce in 2 years.
Chansilp Treinuchakorn, Acting Chairman of Thai Airways International Public Company Limited, revealed that according to the Central Bankruptcy Court, he ordered Thai Airways to rehabilitate the business and establish a planner on September 14, 2020 on March 2. the rehabilitation plan.
Initially, Thai Airways submitted a 303-page rehabilitation plan to the Department of Legal Enforcement. The creditors’ meeting is scheduled to consider the rehabilitation plan on May 12, 2021 at 9:00 am at the Thammasat Convention Center. Thammasat University, Rangsit Center
It is expected that after the creditors’ meeting is completed, the rehabilitation plan will be presented until June-July 2021. Mr. Piyasawat Amranant and Mr. Jakkrit Parapantakul are the executives of the plan to continue managing and managing the business under the business rehabilitation process.
Chansil said Thai Airways will further reduce costs in all parts of the business. Including adjusting the work of the organization into 9 cores in the organization review, for example, the staff cost of up to 30 billion baht per year should not exceed 12 billion baht per year, or reduce more than 50% of staff in 2 years. 1.3-1.5 thousand people, who are expected to reduce total spending by 50 billion baht by 2022 and are expected to return to profit in 2025.
Reduce non-profit routes Special customer care And reduced aircraft types from 12 to 5 types of 86 aircraft to reduce maintenance costs When the COVID-19 epidemic is expected to relax better by 2025.
Chansilp said that Thai Airways’ total debt is about 4.1 billion baht, of which actual debt is about 1.7 billion baht, confirming that there are no debt cuts and no reduction in debt. debt of all creditors. But you will pay only the principal Including not paying debts in the first 3 years
In addition, it will ask to increase the capital in the amount of 50 billion baht in 2 years to have costs to circulate in the business. In the middle of 2021 or approximately in July. Need to find money in the system, 30 billion baht to use in operations AND compensate employees who quit Can be used to borrow money from financial institutions. Finding a joint venture partner AND debt-to-equity conversion
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The Legal Enforcement Department accepts a Thai Airways International Plc business rehabilitation plan. Meeting with creditors on May 12
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