Local airlines are getting a cash injection as the Export-Import Bank of Thailand has given over 6.2 billion baht to keep them afloat and planes in the sky. The financial assistance is aimed to increase liquidity and restructure airline debt to stay solvent through the long-lasting Covid-19 pandemic, according to the Exim Bank president.
The bank is starting out by suspending 3.5 billion baht of loan repayments and rescheduling debt payments while also providing 2.7 billion baht in new loans to struggling local airlines to prevent them from having to do any layoffs and provide liquidity while the tourism sector that got a taste of reopening for the last 2 months now looks to be closing back to a trickle again.
The president of Exim Bank says he’s been following the pandemic and how it unfolds this year to see how the travel and airline industry is likely to be affected by the…
