Bankruptcy email
Jun 12, 2020, 1:10 pm
#2
FlyerTalk Evangelist
Join Date: Mar 2005
Location: WLG/BKK
Programs: TG*G, NZ*GE, QF G, Accor Gold
Posts: 10,190
Link provided by the Bankruptcy Court’s email lists a range of debtors who are instructed to pay the Court. Many airlines (not SQ as far as I could see).https://app-a.nipamail.com/track/cli...Fcbctg0001.pdf
Jun 12, 2020, 5:12 pm
#3
Ambassador: Thai Airways
Join Date: Apr 2006
Location: MEL, SIN, CDG, DXB
Programs: EK*P, TG*P, SQ*PPS
Posts: 976
Got the email, but could not read the document in Thai.
The govt will end up bailing the company out - far too much loss of pride and face if it went bankrupt. The restructuring/reorganisation is likely to be quite light - it will not address the underlying issues and fundamental problems with the airline - and with govt support TG will continue operating largely unchanged.
The airline had a chance under Piyasvasti Amranand - he was tearing into the corruption and incompetence. Unfortunately, his management was making life a little too uncomfortable for some who had vested interests, and he was forced out. Since then, TG has been a basket case. In a western economy, the airline would be allowed to go bankrupt and would re-emerge without all the baggage of the past. That just will not happen for TG.
For those awaiting refunds, I suspect they’re probably safe, although it may take a while for them to be processed.
The govt will end up bailing the company out - far too much loss of pride and face if it went bankrupt. The restructuring/reorganisation is likely to be quite light - it will not address the underlying issues and fundamental problems with the airline - and with govt support TG will continue operating largely unchanged.
The airline had a chance under Piyasvasti Amranand - he was tearing into the corruption and incompetence. Unfortunately, his management was making life a little too uncomfortable for some who had vested interests, and he was forced out. Since then, TG has been a basket case. In a western economy, the airline would be allowed to go bankrupt and would re-emerge without all the baggage of the past. That just will not happen for TG.
For those awaiting refunds, I suspect they’re probably safe, although it may take a while for them to be processed.
Jun 12, 2020, 6:34 pm
#4
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Jun 12, 2020, 8:33 pm
#5
Join Date: Mar 2018
Programs: Thai Airways
Posts: 356
I cannot answer your question, but FYI did receive 2 refunds in full (i.e.without any fee being deducted) last week. One was for a ticket purchased in Thailand and the other purchased in another country.
Jun 12, 2020, 8:44 pm
#6
Join Date: May 2001
Location: RNO, NV, USA.
Programs: UA 2MM
Posts: 5,061
Jun 12, 2020, 11:03 pm
#7
Join Date: May 2010
Location: UK & Phuket
Programs: TG Plat
Posts: 314
Originally Posted by hgp;32451856
The airline had a chance under [color=#202122
The airline had a chance under [color=#202122
Piyasvasti Amranand - he was tearing into the corruption and incompetence. Unfortunately, his management was making life a little too uncomfortable for some who had vested interests, and he was forced out. Since then, TG has been a basket case. In a western economy, the airline would be allowed to go bankrupt and would re-emerge without all the baggage of the past. That just will not happen for TG.[/color]
For those awaiting refunds, I suspect they’re probably safe, although it may take a while for them to be processed.
For those awaiting refunds, I suspect they’re probably safe, although it may take a while for them to be processed.
I am quite a large creditor for a PAX and I agree that bookings and refunds will be honoured when TG is "reorganised" for the reason HGP gives and commercially it will be suicide not to.
TG put back flying to Europe until Aug 1st recently but I suspect it will be long after that and the rumour is October. I can't see them running 2 flights a day to London before late 2021 and that is relying on having 2 slots which is far from certain.
Jun 13, 2020, 12:55 am
#8
Join Date: May 2001
Location: RNO, NV, USA.
Programs: UA 2MM
Posts: 5,061
The govt will end up bailing the company out - far too much loss of pride and face if it went bankrupt. The restructuring/reorganisation is likely to be quite light - it will not address the underlying issues and fundamental problems with the airline - and with govt support TG will continue operating largely unchanged.
The airline had a chance under Piyasvasti Amranand - he was tearing into the corruption and incompetence. Unfortunately, his management was making life a little too uncomfortable for some who had vested interests, and he was forced out. Since then, TG has been a basket case. In a western economy, the airline would be allowed to go bankrupt and would re-emerge without all the baggage of the past. That just will not happen for TG.
The airline had a chance under Piyasvasti Amranand - he was tearing into the corruption and incompetence. Unfortunately, his management was making life a little too uncomfortable for some who had vested interests, and he was forced out. Since then, TG has been a basket case. In a western economy, the airline would be allowed to go bankrupt and would re-emerge without all the baggage of the past. That just will not happen for TG.
.https://www.bangkokpost.com/business...s-safe-for-now
Jun 13, 2020, 3:52 am
#9
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Only a minor creditor here in NZ at around $US1200.
Hopefully I can get over before Dec 2021 when my now open dated (and refundable) tickets finally expire.
Hopefully I can get over before Dec 2021 when my now open dated (and refundable) tickets finally expire.
Jun 24, 2020, 2:18 am
#12
Original Poster
Join Date: Dec 2009
Posts: 2,552
Got another email today. Who knows what it means.
Dear Valued Customers,
Thai Airways Public Company Limited (“THAI”) has filed a petition for business reorganization with the Central Bankruptcy Court on 26 May 2020. Currently, the petition is pending the Central Bankruptcy Court's consideration. In the future, should the court grant the Company's business reorganization and appoint the planner, there will be the process of debt repayment filing with the official receiver within a period of 1 month from the date where the court’s order on the appointment of the planner is published in the Royal Gazette. This process is expected to begin around early September to October 2020 or afterwards.
THAI hereby affirms that our policy is to facilitate and accommodate all refund-requesting customers to the best of our ability so as to minimize any burden of the customers. We discussed with the nominated planner to specify conditions in the business reorganization plan to ensure coverage and entitlement of all refund-requesting customers. Thus, each customer shall be safeguarded from any inconvenience and expenditure due to the debt repayment filing with the official receiver during the business reorganization proceeding because their right shall be preserved under the business reorganization plan.
In this regard, the Company would like to further accommodate the refund-requesting customers as they might wish to verify information with respect to their rights. Therefore, we are developing an IT feature to enable our customers in so doing via the online channel. Any updates shall be notified to you soon.
THAI sincerely apologizes to our customers regarding the business reorganization proceeding, which temporarily barred us from proceeding with the airfare refund. On this occasion, we would like to express its gratitude for your kind understanding and longstanding patronage. We have high hope to return to our normal services following the easing of Thailand’s COVID-19 surveillance, prevention, and control measures in respect of inbound and outbound flights.
Sincerely yours
Thai Airways international Public Company Limited
Thai Airways Public Company Limited (“THAI”) has filed a petition for business reorganization with the Central Bankruptcy Court on 26 May 2020. Currently, the petition is pending the Central Bankruptcy Court's consideration. In the future, should the court grant the Company's business reorganization and appoint the planner, there will be the process of debt repayment filing with the official receiver within a period of 1 month from the date where the court’s order on the appointment of the planner is published in the Royal Gazette. This process is expected to begin around early September to October 2020 or afterwards.
THAI hereby affirms that our policy is to facilitate and accommodate all refund-requesting customers to the best of our ability so as to minimize any burden of the customers. We discussed with the nominated planner to specify conditions in the business reorganization plan to ensure coverage and entitlement of all refund-requesting customers. Thus, each customer shall be safeguarded from any inconvenience and expenditure due to the debt repayment filing with the official receiver during the business reorganization proceeding because their right shall be preserved under the business reorganization plan.
In this regard, the Company would like to further accommodate the refund-requesting customers as they might wish to verify information with respect to their rights. Therefore, we are developing an IT feature to enable our customers in so doing via the online channel. Any updates shall be notified to you soon.
THAI sincerely apologizes to our customers regarding the business reorganization proceeding, which temporarily barred us from proceeding with the airfare refund. On this occasion, we would like to express its gratitude for your kind understanding and longstanding patronage. We have high hope to return to our normal services following the easing of Thailand’s COVID-19 surveillance, prevention, and control measures in respect of inbound and outbound flights.
Sincerely yours
Thai Airways international Public Company Limited
Jun 28, 2020, 9:52 am
#14
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Anyone who tried a charge back yet? I don't have much trust in TG's process or their word that tickets will be valid at sometime in the future.