More detail here on staff reductions and routes to be cut....


National airline to downsize and reduce routes

January 27, 2015 11:27 am

The State Enterprise Policy Committee has approved in principle Thai Airways International's rehabilitation plan, which was discussed in a meeting on Monday chaired by the prime minister.

Measures will include a reduction of the airline's staffing by 5,000 and cancellation of its non-performing routes.

The rehabilitation plan will see its workforce slashed from 25,000 to 20,000.

The Bangkok-Johannesburg route was already cancelled on January 15 and the Bangkok-Madrid, Bangkok-Moscow, Bangkok-Los Angeles routes are likely to be axed in the second quarter of this year.

Decisions on routes that do not make a profit but are considered to have potential will be made in the fourth quarter. They include Bangkok-Rome, Bangkok-Milan, Bangkok-Brussels, Bangkok-Brisbane, Bangkok-Sapporo, Bangkok-Colombo, Bangkok-Denpasar and Bangkok-Hyderabad.

http://www.nationmultimedia.com/nati...-30252743.html



In this article there is mention of the debt issue...

Thai Airways' leverage has been high and increasing since 2011 and is expected to remain high in the medium term, Thailand's TRIS Rating said in a December note.

The airline's adjusted debt to capitalization rose to 82.3 percent at the end of September from over 70 percent in 2011-2013 and 66 percent in 2010 due to huge capital spending, mainly to acquire new aircraft, the ratings agency said.

http://www.reuters.com/article/2015/...0V51ZP20150126