Thai Airways selling 10 properties to raise capital

With deepening debt and the Covid-19 pandemic dragging on and flattening the tourism and travel industry, Thai Airways International is looking to sell off some large assets like buildings and properties to stabilise the struggling airline. The airline has been in the throes of bankruptcy and debt rehabilitation for months now after failing to secure a bailout from the government.

The corporation announced that it is trying to sell off 10 buildings and properties spread throughout Thailand to bolster some cash flow amidst financial woes. A source within Thai Airways confirmed the plan to find buyers for the properties to raise capital.

Thai Airways has been saddled with 245 billion baht of debt and has been seeking restructuring options through methods like interest waivers, payment extensions, and debt-to-equity conversions. In addition to the financial restructuring, the airline…