THAI Confirms It Has Not Lost Financial Liquidity

Travel and Lifestyle Press Releases Friday October 4, 2019 16:25
Bangkok--4 Oct--Thai Airways International
Thai Airways International Public Company Limited (THAI) confirmed that the Company has sufficient cash flow circulation to manage its current and future business operations.
Mr. Sumeth Damrongchaitham, THAI President, denied news reports that THAI was very sick, lacked cash flow, and failed to make ends meet.

From 2013 to 2018, the Company successfully managed, controlled, and gradually reduced debts, even while it underwent the transformation plan in a highly competitive airline industry. Currently, the Company's debts have been reduced by approximately 48,000 million baht. The Company has issued loan debt status reports and loan debt movement reports regularly each month, in addition to annual financial results submitted to the regulatory agencies being the Ministry of Transport, Ministry of Finance, and Public Debt Management Office, all of which received and acknowledged the reports regularly without any qualms.

The new debt plan for fiscal year 2020 that amounts to 32,000 million baht serves as framework for the Company to seek loans to support its investments, to refinance or as working capital in business, as payment for operational expenses, to revamp equipment, and for aircraft maintenance. The amount does not include aircraft acquisitions, which is pending approval from the unit concerned. The figure 32,000 million baht is close to the amount in debt plans from previous years.

Even though the Company continues to have problems with incurred losses that are being resolved, the Company realizes that maintaining financial liquidity is important to business operations and the Management places importance on finances. Therefore, the debt plan and plan to seek loans is precaution in business operations. It is necessary to reserve a sufficient amount of funds to support a fluctuating economy, including necessary situations resulting from other internal and external factors. At the end of June 2019, the Company had cash on hand and a revolving credit line at 13.4 percent of the estimated year-long revenue. It is evident that the Company has enough cash on hand and can proceed with normal business operations and asks that its customers, partners, shareholders, and company stakeholders, as well as the public to remain confident that the Company has not lost financial liquidity as was incorrectly reported in the news.

Latest Press Release

TUMI Taps Actor Daniel Henney For Global Film Series

TUMI, the leading international travel and lifestyle brand today released the first installment, starring film and television star Daniel Henney, in an upcoming series entitled Perfecting The Journey – The Series. As part of TUMI's perpetual...

โปรดีๆ พิเศษจากโรงแรม The Nai Harn สำหรับคนไทย

โปรดีๆ พิเศษจากโรงแรม The Nai Harn สำหรับคนไทย เที่ยวภูเก็ตกันได้ทั้งครอบครัวกับ Thai Resident Rate Promotion ที่มอบส่วนลดพิเศษ ให้คุณและครอบครัว Discover the beauty of Phuket at The Nai Harn with Thai Resident rate starting from 4,500 baht. For a quick...

Best Western(R) Hotels Resorts Promises Exclusive Offers across Thailand at Thai Teaw Thai #54

This March, Best Western Hotels & Resorts will be rewarding visitors at Thai Teaw Thai #54, Thailand's biggest travel fair, with a series of exclusive deals in desirable destinations all across the Kingdom. Guests attending this four-day show can...

AirAsia Gives 100 THB Discount Promo Code FDOFF100 for Domestic Flights! Any Seat, Any Flight, as Many Times as You Want!

AirAsia invites everyone to become frequent fliers by offering an additional 100 THB discount when using the code "FDOFF100" for any seat on any domestic flights booked during the special 3-day period of 24-26 February 2020. Book now at,...

Enjoy Your Swing with an Exclusive Golf Package at Kantary Hotel, Kabinburi

Enjoy playing golf with your friends during a luxurious stay at Kantary Hotel, Kabinburi, which offers you an invaluable "Room & Golf Package". This special promotion is for two days / one night at 3,200 Baht net (Monday-Thursday) and 4,000 Baht net...

Related Topics