Lifeline arranged to keep THAI afloat
The Finance Ministry has asked the Government Savings Bank (GSB) to lend 7 billion baht without collateral to Thai Airways International (THAI) to keep the national carrier in the skies through September.
The state bank said it would wait for THAI's rehabilitation plan approved by the "Superboard" which oversees state enterprises' policies before making the decision.
THAI booked losses of 12 billion baht in 2013, which will take several years to clear.
However, a source at the ministry said the GSB had little choice but to lend the amount to THAI in September because THAI needed it.
If the ministry does not guarantee the loan, it will have to ask the Public Debt Management Office (PDMO) to repay GSB by early 2015, the source said.
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