THAI: News
#736
Join Date: Feb 2009
Posts: 425
again: government will not help
State 'not obliged to save THAI' (bangkokpost.com)
State 'not obliged to save THAI' (bangkokpost.com)
#737
FlyerTalk Evangelist
Join Date: Jul 2011
Location: Tokyo
Programs: JAL Metal Card (OWE), SAS Eurobonus Gold (*G), Marriott Titanium (LTP), Tokyu Hotels Platinum
Posts: 21,089
#738
Join Date: Mar 2008
Location: NCL and LBA
Programs: BD*G, BAGold, Hyatt Diamond, SPG Plat
Posts: 3,268
again: government will not help
State 'not obliged to save THAI' (bangkokpost.com)
State 'not obliged to save THAI' (bangkokpost.com)
With quality management there is no reason why TG shouldn't be able to succeed. BKK is well positioned for connecting flights between many major markets and there is a lot of O&D demand for business & tourism (maybe not the highest yielding). It would be a huge shame to see TG disappear but hopefully it can come back even better than before.
#739
A FlyerTalk Posting Legend
Join Date: Apr 2013
Location: PHX
Programs: AS 75K; UA 1MM; Hyatt Globalist; Marriott LTP; Hilton Diamond (Aspire)
Posts: 56,413
I will be surprised if the government does not ultimately fund a bailout. I say this for two reasons:
1. No lender/investor in their right mind would step into this quagmire. Talk about good money after bad.
2. No Thai Airways means no special perks for royals, political cronies, and hiso's.
1. No lender/investor in their right mind would step into this quagmire. Talk about good money after bad.
2. No Thai Airways means no special perks for royals, political cronies, and hiso's.
#740
Join Date: Mar 2008
Location: NCL and LBA
Programs: BD*G, BAGold, Hyatt Diamond, SPG Plat
Posts: 3,268
I will be surprised if the government does not ultimately fund a bailout. I say this for two reasons:
1. No lender/investor in their right mind would step into this quagmire. Talk about good money after bad.
2. No Thai Airways means no special perks for royals, political cronies, and hiso's.
1. No lender/investor in their right mind would step into this quagmire. Talk about good money after bad.
2. No Thai Airways means no special perks for royals, political cronies, and hiso's.
#741
Join Date: Mar 2011
Location: Japan/Thailand
Programs: AS, UA
Posts: 1,201
Doesn't the 49.9% share holding by the state still mean that they effectively can control the major decisions of the company, unless every single other shareholder decides (dares?) to stick together and go against them when voting on anything?
I guess it comes down the the creditors vs. the shareholders for now, but long term I can't see anything really changing unless the almost-majority shareholder approves of it. Rather convenient for them, actually.
I guess it comes down the the creditors vs. the shareholders for now, but long term I can't see anything really changing unless the almost-majority shareholder approves of it. Rather convenient for them, actually.
#742
Join Date: Oct 2020
Location: RDU/BKK
Programs: AA Plat
Posts: 259
I will be surprised if the government does not ultimately fund a bailout. I say this for two reasons:
1. No lender/investor in their right mind would step into this quagmire. Talk about good money after bad.
2. No Thai Airways means no special perks for royals, political cronies, and hiso's.
1. No lender/investor in their right mind would step into this quagmire. Talk about good money after bad.
2. No Thai Airways means no special perks for royals, political cronies, and hiso's.
I like to think I am not overly romantic about my national airline, but going through BKK during the pandemic and seeing all the parked TG planes is a really sad sight. Have not flown TG internationally in a while now, but it was very melancholic back in January talking to the TG staff in the lounge. Yes, other airlines will serve BKK and travelers will likely not miss too many direct flights (except maybe direct BKK-secondary/tertiary regional cities), but we will not know how good we have had it until we actually lose it.
#743
Suspended
Join Date: Feb 2007
Location: PVG, FRA, SEA, HEL
Programs: UA Premier Gold
Posts: 4,783
Question: Wouldn't it make sense to liquidate TG and build up a new national airline?
The debt of TG is huge! I assume with 50% of that state money (that need to be spend on servicing the debt) you can already establish a new longhaul carrier.
Lease-rates on 777, 787, 359 should be hugely cheap at the moment.
Or -> liquidate Thai Airways and built up Thai Smile to a longhaul carrier;
The debt of TG is huge! I assume with 50% of that state money (that need to be spend on servicing the debt) you can already establish a new longhaul carrier.
Lease-rates on 777, 787, 359 should be hugely cheap at the moment.
Or -> liquidate Thai Airways and built up Thai Smile to a longhaul carrier;
#744
Join Date: Jul 2013
Location: BKK
Programs: TG ROP Platinum, M&M Senator, IHG Platinum, Accor Platinum
Posts: 8,312
state, state agencies, state funds (for example pension funds for state employees) or state owned banks hold far more than 50% of the shares as well as far more than 50% of the debts; also a new national airline can not raise from the ashes without a very significant backing by the Thai taxpayers
so the government could actually decide about the fate of TG
However I do not think there is anybody in this government, who could coordinate all those interests and get an overall best solution with a feasible and agreed haircut of the majority of debtors. so the whole story will drag on and on....
so the government could actually decide about the fate of TG
However I do not think there is anybody in this government, who could coordinate all those interests and get an overall best solution with a feasible and agreed haircut of the majority of debtors. so the whole story will drag on and on....
#746
FlyerTalk Evangelist
Join Date: Jul 2011
Location: Tokyo
Programs: JAL Metal Card (OWE), SAS Eurobonus Gold (*G), Marriott Titanium (LTP), Tokyu Hotels Platinum
Posts: 21,089
#747
Join Date: Mar 2011
Location: Japan/Thailand
Programs: AS, UA
Posts: 1,201
#748
FlyerTalk Evangelist
Join Date: Jul 2011
Location: Tokyo
Programs: JAL Metal Card (OWE), SAS Eurobonus Gold (*G), Marriott Titanium (LTP), Tokyu Hotels Platinum
Posts: 21,089
If those are the ones we talk about, then they are not assets for the process, but liabilities to be eliminated soonest....
#749
Join Date: Aug 2005
Location: BKK
Programs: Mucci Chevalier de la Brosse a Cheveux Dore, SK *GfL, BA Gold, WY G, HH DIA, IC Plat Amb., Hertz PC
Posts: 3,681
Looking at their ‘sales menu’ on THAI Aircraft Trading, they are still even trying to get rid of the old 734s and AB6s in addition to the A345/6s, 777s, A380s and 744s! And add to that a bunch of used engines (wondering if they’re attempting to sell for parts at the same time?), spare parts and B734, AB6, A330 and B744 simulators while we are at it - looks almost like a fancy garage sale
#750
A FlyerTalk Posting Legend
Join Date: Apr 2013
Location: PHX
Programs: AS 75K; UA 1MM; Hyatt Globalist; Marriott LTP; Hilton Diamond (Aspire)
Posts: 56,413