Connect with us

Business

Prayut warns Thai Airways that the latest government bailout will be the last

Thaiger

Published

 on 

image
The Thai PM has issued a stern warning to the executives of Thai Airways that the latest bailout is the last from the government.

Last week the Finance Ministry agreed to guarantee a 54 billion baht bailout loan for the ailing airline and a further 80 billion baht recovery loan – both massive amounts of money being given to an airline that has been in debt for the last decade.

PM Prayut Chan-o-cha says the State Enterprise Policy Office was responsible for caveats on the loans and the restructuring required. Thai Airways is 51% owned by the Thai government. He didn’t mince his words and made it clear that the current raft of bailouts will be the last.

“This is the last time that Thai Airways will receive support from the government. If the situation worsens, there will be a complete structural overhaul of the airline.”

Prayut warned that the airline “must achieve 10 goals and not waste the government-backed loan”. Thai Airways posted a loss of 12 billion baht last year, according to the Stock Exchange of Thailand.

Thai Airways grounded its fleet in early April and is planning to take to the skies at the end of the month when the Thai Civil Aviation Authority lifts its ban on flights at the end of the month, pending opportunities and destinations that ,ay open up for the airline.

Unsurprisingly, eight other airlines based in Thailand have lined up for a 25 billion baht bailout, which is being classed as a ‘soft loan’. This means there will be interest applied, at a low rate of 2%, and the airlines will have five years from the start of 2021 to pay it back. The eight airlines in question are Bangkok Airways, Thai AirAsia, Thai AirAsia X, Thai Lion Air, Thai VietJet, Thai Smile, NokScoot and Nok Airlines.

Meanwhile Thai Airways’ staff have been on a charm offensive promising they’ll be back in the skies soon and even put a music video together showing off some of their dancing skills (below).

Prayut warns Thai Airways that the latest government bailout will be the last | News by Thaiger

 

Get more from The Thaiger

Looking for your next home in Thailand? Let us match you with a local expert in minutes!

Thank you for your interest!

One of our agents will
reach out to you soon.

I want to:
  • Thailand (ไทย)+66
  • United States+1
  • United Kingdom+44
  • Australia+61
  • Afghanistan (‫افغانستان‬‎)+93
  • Albania (Shqipëri)+355
  • Algeria (‫الجزائر‬‎)+213
  • American Samoa+1684
  • Andorra+376
  • Angola+244
  • Anguilla+1264
  • Antigua and Barbuda+1268
  • Argentina+54
  • Armenia (Հայաստան)+374
  • Aruba+297
  • Australia+61
  • Austria (Österreich)+43
  • Azerbaijan (Azərbaycan)+994
  • Bahamas+1242
  • Bahrain (‫البحرين‬‎)+973
  • Bangladesh (বাংলাদেশ)+880
  • Barbados+1246
  • Belarus (Беларусь)+375
  • Belgium (België)+32
  • Belize+501
  • Benin (Bénin)+229
  • Bermuda+1441
  • Bhutan (འབྲུག)+975
  • Bolivia+591
  • Bosnia and Herzegovina (Босна и Херцеговина)+387
  • Botswana+267
  • Brazil (Brasil)+55
  • British Indian Ocean Territory+246
  • British Virgin Islands+1284
  • Brunei+673
  • Bulgaria (България)+359
  • Burkina Faso+226
  • Burundi (Uburundi)+257
  • Cambodia (កម្ពុជា)+855
  • Cameroon (Cameroun)+237
  • Canada+1
  • Cape Verde (Kabu Verdi)+238
  • Caribbean Netherlands+599
  • Cayman Islands+1345
  • Central African Republic (République centrafricaine)+236
  • Chad (Tchad)+235
  • Chile+56
  • China (中国)+86
  • Christmas Island+61
  • Cocos (Keeling) Islands+61
  • Colombia+57
  • Comoros (‫جزر القمر‬‎)+269
  • Congo (DRC) (Jamhuri ya Kidemokrasia ya Kongo)+243
  • Congo (Republic) (Congo-Brazzaville)+242
  • Cook Islands+682
  • Costa Rica+506
  • Côte d’Ivoire+225
  • Croatia (Hrvatska)+385
  • Cuba+53
  • Curaçao+599
  • Cyprus (Κύπρος)+357
  • Czech Republic (Česká republika)+420
  • Denmark (Danmark)+45
  • Djibouti+253
  • Dominica+1767
  • Dominican Republic (República Dominicana)+1
  • Ecuador+593
  • Egypt (‫مصر‬‎)+20
  • El Salvador+503
  • Equatorial Guinea (Guinea Ecuatorial)+240
  • Eritrea+291
  • Estonia (Eesti)+372
  • Ethiopia+251
  • Falkland Islands (Islas Malvinas)+500
  • Faroe Islands (Føroyar)+298
  • Fiji+679
  • Finland (Suomi)+358
  • France+33
  • French Guiana (Guyane française)+594
  • French Polynesia (Polynésie française)+689
  • Gabon+241
  • Gambia+220
  • Georgia (საქართველო)+995
  • Germany (Deutschland)+49
  • Ghana (Gaana)+233
  • Gibraltar+350
  • Greece (Ελλάδα)+30
  • Greenland (Kalaallit Nunaat)+299
  • Grenada+1473
  • Guadeloupe+590
  • Guam+1671
  • Guatemala+502
  • Guernsey+44
  • Guinea (Guinée)+224
  • Guinea-Bissau (Guiné Bissau)+245
  • Guyana+592
  • Haiti+509
  • Honduras+504
  • Hong Kong (香港)+852
  • Hungary (Magyarország)+36
  • Iceland (Ísland)+354
  • India (भारत)+91
  • Indonesia+62
  • Iran (‫ایران‬‎)+98
  • Iraq (‫العراق‬‎)+964
  • Ireland+353
  • Isle of Man+44
  • Israel (‫ישראל‬‎)+972
  • Italy (Italia)+39
  • Jamaica+1
  • Japan (日本)+81
  • Jersey+44
  • Jordan (‫الأردن‬‎)+962
  • Kazakhstan (Казахстан)+7
  • Kenya+254
  • Kiribati+686
  • Kosovo+383
  • Kuwait (‫الكويت‬‎)+965
  • Kyrgyzstan (Кыргызстан)+996
  • Laos (ລາວ)+856
  • Latvia (Latvija)+371
  • Lebanon (‫لبنان‬‎)+961
  • Lesotho+266
  • Liberia+231
  • Libya (‫ليبيا‬‎)+218
  • Liechtenstein+423
  • Lithuania (Lietuva)+370
  • Luxembourg+352
  • Macau (澳門)+853
  • Macedonia (FYROM) (Македонија)+389
  • Madagascar (Madagasikara)+261
  • Malawi+265
  • Malaysia+60
  • Maldives+960
  • Mali+223
  • Malta+356
  • Marshall Islands+692
  • Martinique+596
  • Mauritania (‫موريتانيا‬‎)+222
  • Mauritius (Moris)+230
  • Mayotte+262
  • Mexico (México)+52
  • Micronesia+691
  • Moldova (Republica Moldova)+373
  • Monaco+377
  • Mongolia (Монгол)+976
  • Montenegro (Crna Gora)+382
  • Montserrat+1664
  • Morocco (‫المغرب‬‎)+212
  • Mozambique (Moçambique)+258
  • Myanmar (Burma) (မြန်မာ)+95
  • Namibia (Namibië)+264
  • Nauru+674
  • Nepal (नेपाल)+977
  • Netherlands (Nederland)+31
  • New Caledonia (Nouvelle-Calédonie)+687
  • New Zealand+64
  • Nicaragua+505
  • Niger (Nijar)+227
  • Nigeria+234
  • Niue+683
  • Norfolk Island+672
  • North Korea (조선 민주주의 인민 공화국)+850
  • Northern Mariana Islands+1670
  • Norway (Norge)+47
  • Oman (‫عُمان‬‎)+968
  • Pakistan (‫پاکستان‬‎)+92
  • Palau+680
  • Palestine (‫فلسطين‬‎)+970
  • Panama (Panamá)+507
  • Papua New Guinea+675
  • Paraguay+595
  • Peru (Perú)+51
  • Philippines+63
  • Poland (Polska)+48
  • Portugal+351
  • Puerto Rico+1
  • Qatar (‫قطر‬‎)+974
  • Réunion (La Réunion)+262
  • Romania (România)+40
  • Russia (Россия)+7
  • Rwanda+250
  • Saint Barthélemy+590
  • Saint Helena+290
  • Saint Kitts and Nevis+1869
  • Saint Lucia+1758
  • Saint Martin (Saint-Martin (partie française))+590
  • Saint Pierre and Miquelon (Saint-Pierre-et-Miquelon)+508
  • Saint Vincent and the Grenadines+1784
  • Samoa+685
  • San Marino+378
  • São Tomé and Príncipe (São Tomé e Príncipe)+239
  • Saudi Arabia (‫المملكة العربية السعودية‬‎)+966
  • Senegal (Sénégal)+221
  • Serbia (Србија)+381
  • Seychelles+248
  • Sierra Leone+232
  • Singapore+65
  • Sint Maarten+1721
  • Slovakia (Slovensko)+421
  • Slovenia (Slovenija)+386
  • Solomon Islands+677
  • Somalia (Soomaaliya)+252
  • South Africa+27
  • South Korea (대한민국)+82
  • South Sudan (‫جنوب السودان‬‎)+211
  • Spain (España)+34
  • Sri Lanka (ශ්‍රී ලංකාව)+94
  • Sudan (‫السودان‬‎)+249
  • Suriname+597
  • Svalbard and Jan Mayen+47
  • Swaziland+268
  • Sweden (Sverige)+46
  • Switzerland (Schweiz)+41
  • Syria (‫سوريا‬‎)+963
  • Taiwan (台灣)+886
  • Tajikistan+992
  • Tanzania+255
  • Thailand (ไทย)+66
  • Timor-Leste+670
  • Togo+228
  • Tokelau+690
  • Tonga+676
  • Trinidad and Tobago+1868
  • Tunisia (‫تونس‬‎)+216
  • Turkey (Türkiye)+90
  • Turkmenistan+993
  • Turks and Caicos Islands+1649
  • Tuvalu+688
  • U.S. Virgin Islands+1340
  • Uganda+256
  • Ukraine (Україна)+380
  • United Arab Emirates (‫الإمارات العربية المتحدة‬‎)+971
  • United Kingdom+44
  • United States+1
  • Uruguay+598
  • Uzbekistan (Oʻzbekiston)+998
  • Vanuatu+678
  • Vatican City (Città del Vaticano)+39
  • Venezuela+58
  • Vietnam (Việt Nam)+84
  • Wallis and Futuna (Wallis-et-Futuna)+681
  • Western Sahara (‫الصحراء الغربية‬‎)+212
  • Yemen (‫اليمن‬‎)+967
  • Zambia+260
  • Zimbabwe+263
  • Åland Islands+358

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

image

Follow Thaiger by email:

image
Eastern Thailand28 mins ago

UPDATE: Resort in eastern Thailand denies media claims

image
Thailand16 hours ago

Thailand News Today | Monk accused of embezzling 95 million baht

image
Bangkok16 hours ago

Thai taxi drivers protest against extended GrabBike deadline

image
Sponsored24 hours ago

The ultimate holiday destination at Four Points by Sheraton Phuket Patong Beach Resort

image
image
World17 hours ago

North Korea says “unusual things” near border caused Covid-19 outbreak

image
China17 hours ago

China and Taiwan offer conflicting views over Hong Kong rule

image
Songkhla17 hours ago

Songklha welcomes more Malaysian tourists after Thailand pass scrapped

image
Join the conversation on the Thaiger Talk forums today!
image
Eastern Thailand18 hours ago

Police tracking down British nationals after March fire in eastern Thailand

image
Phuket18 hours ago

UPDATE: 19 year old Australian falls to his death at a Phuket hotel

image
Tourism19 hours ago

Unlicensed pool villa in Pattaya raided by police

image
Transport19 hours ago

Pink and Yellow monorail lines will be in service in 2023

image
Weather19 hours ago

Storm ‘Chaba’ to impact Thailand, meteorologists say

image
Thailand20 hours ago

Thai healthcare staff demand reduction to 100 hour working week

image
World20 hours ago

Sri Lanka’s doctors and nurses demand fuel and medicine

image
Technology22 hours ago

Thai bank apps crash on payday causes customer outrage

image
Tourism22 hours ago

Goodbye, adios, good riddance Thailand Pass – OPINION

image
Thailand10 months ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

image
Thailand1 year ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

image
Tourism1 year ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

image
Phuket1 year ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

image
Tourism1 year ago

Phuket Thai food treats you need to try | VIDEO

image
Thailand1 year ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

image
Tourism1 year ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

image
Thailand1 year ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

image
Thailand1 year ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

image
Thailand1 year ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

image
Thailand1 year ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

image
Thailand1 year ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

image
Thailand1 year ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

image
Thailand1 year ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

image
Thailand1 year ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending

By continuing to use our site you consent to the use of cookies as described in our privacy policy.