BANGKOK — Thai Airways International’s turnaround plan is expected to receive court approval in mid-2021, at which time the flag carrier could proceed with debt restructuring, cost cutting and coronavirus-related projects designed to bring new revenue.
The plan being devised by the airline covers haircuts on company debt as well as the new revenue initiatives over the next few years, said Chansin Treenuchagron, acting president.
Thai Airways became one of the most prominent Asian corporate victims of the coronavirus pandemic this year as flights into and out of Thailand were frozen by the global travel restrictions. Now, the carrier is looking for the light at the end of the tunnel.
“Since the COVID-19 remains and the number of passengers is very low, we are trying to generate revenue from cargo flights,” Chansin said.
“All projects are in the plan, which is due to be submitted for…
