THAI: News

Old Sep 1, 20, 4:49 am
  #556  
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Originally Posted by Creole Spirit View Post
The way I understand the slides, there is no chance that TG will resume operations before May 2021.

Preparing a reorganization plan is never easy in normal times. It involves internal restructuring and routes planning. But it also proposes how creditors will be partly of fully compensated. With so many creditors abroad, that will be difficult. But with the covid situation it is near impossible to draw a route plan for the future. Let's say that TG anticipate 10% (or 20%) international traffic in 2021. Will any plan make financial sense?
In a way TG is liucky to be in bankruptcy in the covid crisis as it is not hemorrhaging cash like other airlines. But hard to build a reorganization plan for the future that would not rely on massive government bailout.

BTW: Funny that TG considers that all the causes and reasons for bankruptcy are all external (slide 4). Not a word about possible internal problems.
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Old Sep 1, 20, 5:20 am
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I found this quite amusing,

The looting of the national carrier reportedly included an instance of an employee in the repair and maintenance division claiming 419 days or overtime for 3 million baht in a single year.
https://www.bangkokpost.com/thailand...hai-says-panel
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Old Sep 1, 20, 10:10 pm
  #558  
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Originally Posted by tg911 View Post
I found this quite amusing,
"Minister blames Airbus purchases during Thaksin era for start of downward spiral."

They'll be blaming Thaksin forever, for everything.
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Old Sep 2, 20, 11:11 am
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Originally Posted by transpac View Post
"Minister blames Airbus purchases during Thaksin era for start of downward spiral."

They'll be blaming Thaksin forever, for everything.
How true, fortunately since the 2014 Coup, the incoming Ďadministrationsí have managed to eradicate corruption 😉
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Old Sep 3, 20, 7:19 pm
  #560  
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Thai Airways opens diner for customers craving in-flights meals

BANGKOK (Reuters) - More than 100 diners craving in-flight meals after months of travel restrictions flocked to Thai Airways International Pcl's offices on Thursday to try a new pop-up restaurant and get a reminder of the forgotten flavors of onboard dining.

The national carrier, which has for months grounded most of its planes, has transformed the cafeteria of its Bangkok headquarters into an airline-themed restaurant and opened it to the public.

https://www.reuters.com/article/us-t...-idUSKBN25U1VJ
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Old Sep 15, 20, 3:30 am
  #561  
 
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almost as expected: rehabilitation granted
https://www.thaiairways.com/en/news/...il/news98.page

I am wondering if all customers, who have already submitted a ticket refund application, also have to subscibe and claim their money back again as a creditor of Thai Airways with pending outstanding debenture within the one-month period.....?
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Old Sep 15, 20, 8:31 am
  #562  
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Originally Posted by Creole Spirit View Post
almost as expected: rehabilitation granted
https://www.thaiairways.com/en/news/...il/news98.page

I am wondering if all customers, who have already submitted a ticket refund application, also have to subscibe and claim their money back again as a creditor of Thai Airways with pending outstanding debenture within the one-month period.....?
Indeed.
From the linked document:
"In case of debts arising from ticket refund, the supporting documents are, namely, a copy of passenger ticket, a copy of document showing evidence of payment, and a copy of document confirming a request for ticket refund. "
However:
"Customers who have applied for ticket refund are considered the creditors of monetary debts and are entitled to apply for debt repayment. However, the planners will prepare an inclusive business reorganization plan which supports the right of the customers who have applied for a ticket refund before the order of the business reorganization is granted. If the rights of the customers are determined in the plan as prepared by THAI's planners, the creditors who are specified in the plan are legally exempted from filing the application for debt repayment. The customers who applied for ticket refund will receive the repayment of debt as stipulated in the conditions of the business reorganization plan without having to file the application for debt repayment.."


Quite contradictory. Basically you must file within a month or wait in case the planners prepare s special plan for them.
And you can also keep the unused ticket for the future or ask for a voucher valid till December 2022.

Those asking for a refund will probably only get a partial refund some time in 2021. Foreign creditors will probably fight the first plan offered.
Those asking for a voucher might get to travel on the New Thai. But the network of New Thai is likely to be limited.
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Old Sep 16, 20, 10:36 am
  #563  
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So what do I do with regards to TG award tickets where the flights were cancelled? Can they be used on the New Thai?
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Old Sep 18, 20, 2:26 am
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I have several return flights booked LHR-BKK-HKT Dec on, all the BKK-HKT and HKT-BKK were cancelled yesterday by email without any explanation. I tried a dummy booking and these are now all Thai Smile, e.g. TG217 is now TG2217. No idea why they did not just reallocate my bookings or whether they will eventually do so.
One return is in F where I usually get the 747 F cabin as business class BKK-HKT but now I get economy with an empty seat next to me. Oh well, if they are actually flying it's still a bonus I suppose.
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Old Sep 19, 20, 12:58 am
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Ditto two connecting-flights BKK-CNX (December) and CNX-BKK(March) were cancelled two days ago, and have now disappeared off my reservation, going by the last times they did the same thing to me, the travel was eventually rebooked on Thai-Smile.

Interesting that 100%-subsidiary Thai-Smile is still operating domestic-flights, when the parent airline is grounded. How does that happen ? And will it continue ?
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Old Sep 19, 20, 1:35 am
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Originally Posted by Richard Bell View Post
Interesting that 100%-subsidiary Thai-Smile is still operating domestic-flights, when the parent airline is grounded. How does that happen ? And will it continue ?
Hardly surprising, is it? Lower cost base and a fleet of smaller planes in order to adjust to low demand is your answer.
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Old Sep 19, 20, 5:44 pm
  #567  
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Cash-strapped THAI finds winning formula with deep-fried dough sticks

Thai Airways International (THAI) appears to have finally found a winning formula – Youtiao or deep-fried dough sticks served up with taro custard.

There were long queues of people waiting to sample the treat when airline staff started frying up the treat outside THAI headquarters near Silom Road from 6.30am on Wednesday (September 16).

https://www.nationthailand.com/news/...ernal_referral
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Old Sep 20, 20, 5:52 am
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Originally Posted by SKT-DK View Post
Hardly surprising, is it? Lower cost base and a fleet of smaller planes in order to adjust to low demand is your answer.
I meant, how can a 100%-owned subsidiary be able to operate, when the parent-company is in the bankruptcy-court, with no plan or permission to restart operations ? How can they pay their bills, or are they running on credit, who would give credit to a bankrupt airline ?

How come the lessors are allowing their planes to fly, without payment every month ? How are they getting fuel, or ground-handling, or insurance without paying for it ?
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Old Sep 21, 20, 6:32 am
  #569  
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Originally Posted by Richard Bell View Post
I meant, how can a 100%-owned subsidiary be able to operate, when the parent-company is in the bankruptcy-court, with no plan or permission to restart operations ? How can they pay their bills, or are they running on credit, who would give credit to a bankrupt airline ?

How come the lessors are allowing their planes to fly, without payment every month ? How are they getting fuel, or ground-handling, or insurance without paying for it ?
Thai Smile is a completely separate company, with its own balance sheet, cash etc...
Whoever the owner is does not matter. If it is viable, it can continue flying.

in Thai Airways bankruptcy a list is made of all of TG assets and debts. Thai Smile shares are part of TG assets.
Hence creditors have a claim on all TG assets, including the shares of Thai Smile. But we have to wait for the end of the restructuration process to see what happens.
In the (unlikely) case that TG is simply liquidated, then Thai SMile would be sold to the highest bidder. But as long as Thai Smile is sound (I doubt that they are), they can keep flying.
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Old Sep 27, 20, 5:51 am
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Very interesting, I am just walking through T3 of Copenhagen Airport. TG951 is open for check in, and seemingly operating as normal.. I thought mainline operations were suspended....
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