Court clears THAI for takeoff, as it doubles Aussie flights
Thai Airways (THAI) received a much-needed boost today when the Central Bankruptcy Court approved the airline’s request to overhaul its recovery plan. The news comes on the back of a THAI announcement that passengers increased by 80% this month and plans to double flights to Melbourne, Australia, in December.
Thailand’s national flag carrier was told by the court to carry on after most of its creditors backed the revised plan, according to the Nation.
It was reported that about 79% of the creditors, including the Finance Ministry, endorsed THAI’s revised recovery plan.
THAI has struggled over the past few years like most businesses on the back of the Covid-19 pandemic.
The airline filed for bankruptcy protection in late 2019 after reporting massive debts of 245 billion baht. The Cabinet in May 2020 gave the rehabilitation plan the go-ahead under the Bankruptcy Act, which was later approved by the Central Bankruptcy Court. But green shoots of recovery have sprouted over the past few months.
In July, THAI announced it was renting three more planes and hiring 600 more staff as part of its restructuring plans. And, after cutting costs, selling stock, chasing debts, and distributing plane seats, turnover increased.
THAI made it known that it has seen a passenger increase of 80% for the first 10-days of this month, according to Thai Enquirer.
The airline said that its average passenger traffic stood at 17,554 people per day from 2,092 people per day in January 2022.
THAI added that travel demand continued to grow in the first 9-months of this year, due to the relaxation and removal of travel restrictions and restrictions in countries around the world.
Meanwhile, THAI announced plans to double flights between Melbourne Tullamarine and Bangkok Suvarnabhumi from December 1, according to simpleflying.com.
The flight schedule between Bangkok and Melbourne:
Bangkok to Melbourne
TG461: departs Bangkok at 8.20am, and arrives in Melbourne at 9.20pm.
TG465: departs Bangkok at 12.05am, and arrives in Melbourne at 1.05pm.
Melbourne to Bangkok
TG462: departs Melbourne at 12.30am, and arrives in Bangkok at 5.40am.
TG466: departs Melbourne at 3.25pm and arrives in Bangkok at 8.35pm.
