Thai airlines to report on their financial health

Dino D'Amore
By Dino D'Amore February 25, 2016 19:24

Thai airlines to report on their financial health

The Civil Aviation Authority of Thailand (CAAT) has ordered all Thai-registered airlines to submit reports on their financial positions by March 31 or risk of having their operating licences revoked. CAAT examined the financial status of Thai airlines late last year and found four small airlines – City Airways, Asian Air, Kan Airlines and Jet Asia Airways – with debt levels that could affect safety standards.

One of the named airlines, Kan Air, is planning on filing a lawsuit against authorities for defamation. Somphong Sooksanguan, president of Kannithi Aviation, which operates Kan Air, described CAAT’s public disclosure of the debts as unethical and critically damaging to the airline’s creditability.

Dino D'Amore
By Dino D'Amore February 25, 2016 19:24