Airline News
New lifeline for THAI
September 9th 2014
Thai Airways International (THAI) is struggling to make ends meet and has embarked on a restructuring mission aimed at turning its fortunes around after a net loss of THB7.654 billion (US$236 million) in second-quarter 2014, more than double its THB2.899 billion loss in the year-ago period, and the fifth consecutive quarter of losses for the legacy carrier. Read More »
The Bangkok Post says Thailand’s Finance Ministry has asked the Government Savings Bank (GSB) to lend THB7 billion without collateral to THAI to keep the carrier in the skies throughout September.
The loan is likely to get approved, although not until September 18 when the GSB is holding its next board meeting, said GSB board chairman Somchai Sajiapongse.
In other news, THAI said it has reduced its fuel hedging for the rest of the year to 50% of fuel needs compared to 90% late last year, as global oil prices look to remain largely stable.
