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Twinpalms Hotels & Resorts appoint new director of sales & revenue

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PHOTO: Paritchawan Kraiponrak (Jom), the new Director of Sales & Revenue at Twinpalms Group

Mrs Paritchawan Kraiponrak (Jom) is warmly welcomed back into the Twinpalms group to take the position of Director of Sales & Revenue for the Phuket-grown hospitality brand.

With well over two decades of solid work experience within Phuket’s hospitality industry and a master’s degree in ‘Hospitality & Tourism Management’, Jom says her aim with her new role is “To bring the Twinpalms and Phuket lifestyle to the forefront of travel professionals globally.”

“We offer so many experiences so well, including yachting, enjoying our beach club, the residences, dining in our restaurants as well as the hotel and encouraging our guests to live life to the full.”

Returning to the innovative company after 7 years away and leading the sales departments at Angsana Laguna Phuket and Centara Hotels & Resorts Phuket during that time, on her return, Jom is eager tosteer Twinpalms into its fourteenth year and beyond to retain its position as one of Thailand’s leadingluxury lifestyle resorts.

“We are delighted to welcome Jom back into the Twinpalms family and are looking forward to workingtogether to further enhance the company’s long-term vision with the launch of additional hotels and restaurants.” – General Manager, Olivier Gibaud of Twinpalms Hotels & Resorts.

Twinpalms Hotels & Resorts appoint new director of sales & revenue | News by Thaiger

 

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No government bailout for Thai Airways

Maya Taylor

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PHOTO: Flickr/Christian Junker

A final meeting for a vote on the Thai Airways debt restructure program is set for this Wednesday after being postponed last week.

Meanwhile, a source close to those managing Thai Airways’ debt rehab plan, says the state is not obliged to provide a bailout for the national carrier. The Bangkok Post reports that Chansin Treenuchagron, acting president for Thai Airways, says no such commitment has been made and the government is not obliged to take on the role of loan guarantor for the airline.

It’s understood that last week, representatives from the Finance Ministry attended an online meeting between the airline’s debt rehab planners and its creditors. However, Chansin says the ministry’s presence at the meeting is not an indication that the state will provide a bailout.

According to the Bangkok Post report, a number of creditors are concerned about the carrier’s ability to secure a loan without assistance from the Finance Ministry, but Chansin insists that, should the rehab plan be judged financially viable, loan procurement will not be an issue, even with the airline’s huge debts.

A vote on the plan was delayed last week after more than 15 creditors asked for amendments to be made. It’s understood a number of creditors, including the Finance Ministry, are against the proposal of a no debt cut outlined in the plan. Thai Airways is understood to be trying to defer bond repayments.

The vote is now scheduled to take place on Wednesday, when the airline’s creditors will decide whether or not to accept the plan. The carrier needs more than 50% of its creditors to vote in favour of accepting, at which point, it will be submitted to the Central Bankruptcy Court for consideration. In the event of insufficient votes in favour of the plan, the national airline will be declared bankrupt.

SOURCE: Bangkok Post

 

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Thailand’s airlines call for meeting with PM to discuss soft loans

Maya Taylor

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PHOTO: Flickr/Ferry Octavian

The Thai Airlines Association says 7 member airlines are pushing for a meeting with PM Prayut Chan-o-cha to discuss the option of soft loans. The carriers have been seeking this financial aid for some time and have even decreased the amount being asked for, from 24 billion baht last year to 14 billion now.

The Bangkok Post reports that representatives from Thai AirAsia, Thai AirAsia X, Bangkok Airways, Nok Air, Thai Smile Airways, Thai Lion Air, and Thai Vietjet Air want to meet the PM to discuss what progress, if any, has been made on the matter. Wutthipong Prasartthong-osod from the TAA says the loans would give the carriers the support they desperately need at this time, with the association also putting the request in writing.

The airlines previously met with the PM last August to discuss the proposal, with the TAA pointing out the situation has worsened considerably since then. The ongoing third wave of Covid-19 has led to a reduction in flights, which has had a significant impact on revenue.

In addition, carriers are struggling to meet the ongoing costs of operating flights and paying workers. The association says the provision of soft loans would cushion the impact and help domestic tourism. It is also calling on the government to vaccinate airline staff, given that they are frontline workers in the tourism sector.

The Bangkok Post reports that in February, the Finance Minister, Arkhom Termpittayapaisith, was hesitant in his response to the call for soft loans, with the Export-Import Bank of Thailand asked to come up with some form of financial assistance for the airlines. According to Arkhom, providing soft loans or bringing such lending under the Public Service Account would mean his ministry having to take responsibility for the difference between market interest and soft loan interest.

SOURCE: Bangkok Post

 

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Thai Airways debt restructuring vote pushed back to next week

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Photo via Wikimedia

The vote on Thai Airways International’s debt restructuring plan has been postponed and rescheduled for next week. The national airline needs the plan to be approved by more than 50% of creditors to move forward with the bankruptcy proceedings.

The airline’s total liabilities stack up more than 300 billion baht. With flight suspensions over the past year brought on by travel restrictions to prevent the spread of Covid-19, Thai Airways lost 141 billion baht last year.

Thai Airways has proposed a 3-year freeze on the loan repayments as well as a 6-year delay on bond repayments. The airline is also pushing to have unpaid interest on loans waived.

Debtholders discussed the plan during a video conference today and decided to delay the vote, a legal advisor to Thai Airways told reporters. Back in March, Thailand’s Finance Minister, which is the airline’s largest shareholder, had implied that they back the debt restructuring plan. An attorney representing the creditors had also said many favoured the proposed restructuring.

SOURCE: Bloomberg

 

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