Thai Airways to sell non-core assets

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By TESTCustomwebLP TESTCustomwebLP March 9, 2015 15:42

Thai Airways to sell non-core assets

In an interview with Reuters, Charumporn Jotikasthira, president of Thai Airways International confirmed the company will sell some of its 15.5 billion baht (US$481 million) of non-core assets to cover any losses this year from hits from cutting its fleet and workforce. The decline in fuel costs are predicted to have saved the carrier around 16 billion baht in 2015 and help it return it to operating profit for the first time since 2012.

Thai Airways International has land and hotels as well as its 39% stake in Nok Air and a 23% stake in jet fuel distributor Bangkok Aviation Fuel Services in its portfolio it can sell to raise the cash required to restructure the airline and pay off debt estimated to be around US$5.9 billion, according to data from Thomson Reuters.

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By TESTCustomwebLP TESTCustomwebLP March 9, 2015 15:42