UPDATE: Trading in Thai Airways shares was suspended by the Stock Exchange of Thailand this afternoon after auditors declined to sign off on its financial statements for the six months to June 30. Auditor Deloitte Touche Tohmatsu Jaiyos said it couldn’t reach a conclusion on the statements due to issues including a lack of liquidity and debt defaults, which created “material uncertainty” and may affect the value of assets and liabilities. ORIGINAL STORY: Embattled, bankrupt Thai Airways suffered about 28 billion baht in losses for the first 6 months of this year, mainly attributable to the Covid-19 pandemic, which has […]

Embattled, bankrupt Thai Airways suffered about 28 billion baht in losses for the first 6 months of this year, mainly attributable to the Covid-19 pandemic, which has seriously impacted its operations and crushed global travel, grounding fleets and shuttering many airlines altogether. The airline’s acting president said today that the pandemic has led to many countries, including Thailand, closing their borders and imposing lockdown measures, including travel restrictions, resulting in substantial reductions in both domestic and international travel. Thai Airways, he said, has had to reduce its flights in line with reduced passenger loads. For the first quarter of this […]

Thailand is being encouraged to promote itself as a manufacturing hub for medical and personal protection equipment as part of its financial strategy amid the coronavirus crisis, as industries like tourism and hospitality struggle. The director of the Centre for International Trade Studies at the University of the Thai Chamber of Commerce told reporters that the latest survey of 200 foreign and Thai entrepreneurs from June 1 to July 15 shows worrisome financial results. The poll reveals that although Chinese companies remain Thailand’s top investors, many foreign entrepreneurs are likely to relocate production base out of Thailand after Covid-19 recedes […]