Mr. Thassapon Bleweld, Chairman of the Executive Board of Asia Aviation Public Company Limited It said more than a year after the COVID-19 crisis was striving in every way to allow businesses to continue. And recently prepared to raise funds for a new business restructuring
Under the short-term plan, Thai AirAsia (TAA) will receive loans from new investors. In the form of a convertible loan agreement Or interest-free convertible debentures worth not more than 3,150 million baht in order to enhance liquidity and prepare for the opening of the country to foreign tourists Returning to fly strong again. Which now the new investor is in the process of reviewing the business And negotiate details of various conditions Expected to be completed no later than mid-May 2021 and received this investment around the end of June.
“This new investor loan will help Thai AirAsia’s liquidity management for another 3 years from the date of receiving the loan. Escape from the COVID-19 crisis That should be resolved The airline business has returned to normal. “
Investors will then be able to convert the bond into TAA ordinary shares after TAA’s consultation and approval from the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET). T) in the listing of TAA in place of AAV and an initial public offering (IPO) at the end of this year or early next year. Which should raise approximately 3,000 million baht and thus the restructuring plan, TAA will receive a total capital of 5,907 million baht, ready for long-term growth.
This deal has been done since a month ago. Jan ago After we have struggled to do everything, such as applying for support for low-interest loans (Softlovers) from the government for more than a year. We will still take Because the interest is cheap But if we sit, bend your hands, bend your feet and wait By now, the company would have gone bankrupt. Therefore, we do not want to wait for the government alone. And patience is limited. “
For new shareholder structure after business restructuring The new investor will take over an 11% stake in the convertible bond. As for the side of AirAsia Investment Limited Company from Malaysia Remain the same proportion at 45%, while the existing AAV shareholders the shareholding will be reduced to 24% (from the AAV share conversion of 59%) and the part that will be prepared to IPO TAA shares To the general public for the first time at a price of 20.3925 baht per share
Mr. Thassaphon Said that the outlook for the year 2021 is viewed that depending on the situation Especially about accelerating vaccination both in Thailand and abroad. Bolster the opening of international flights After having added liquidity It is expected that this year’s performance should improve even though it still has a loss, but it is a lower loss compared to 2020.
As for the year 2022, it is expected that the operating results are still not profitable. It has reached the break event point. Or the loss to the minimum Thai AirAsia should start international flights in the first or second quarter of next year and will return to 100% international flights in 2023, making it profitable again.
Mr. Santisuk Klongchaiya, Chief Executive Officer of Asia Aviation Public Company Limited and Thai AirAsia Company Limited Added that In the domestic flight market, Thai AirAsia has cut its aircraft use to 15-20 aircraft, 60% lower than before the COVID-19 outbreak 3, which used nearly 40 aircraft. The estimated 9.4 million in 2021 passengers may have to wait and see how long the impact has been in the next few weeks. By limiting the expenses to 200 million baht per month, in line with the income situation.
The origin
