Major restructuring for Thai but bankruptcy is avoided

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By TESTCustomwebLP TESTCustomwebLP January 26, 2015 20:54

Major restructuring for Thai but bankruptcy is avoided

Thai Airways International (THAI) is preparing for a major restructuring effort in return for government aid. The carrier will not need to declare bankruptcy but will be forced to cut expenses, increase revenue, drop unprofitable routes and sells some assets, according to the Prime Minister Prayut Chan-o-cha.

Changes to management, personnel and staff benefits, and travel agents will also be required.

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By TESTCustomwebLP TESTCustomwebLP January 26, 2015 20:54