No state aid for Thai Airways as it heads for bankruptcy

The Thai government has changed its mind on providing $1.8 billion state aid for the country’s flag carrier and instead will let the firm go bankrupt, according to Reuters. Thailand’s State Enterprise Policy Committee has previously approved “in principle” the proposal to  prop up the airline via a 58 billion Thai baht loan guarantee but it has now decided to let the company go into a Thai version of “Chapter 11” insolvency instead. “The State-Enterprise Planning Office agreed in principle for the rehabilitation of Thai Airways in court… the procedure will be submitted to cabinet tomorrow,” government spokeswoman Narumon Pinyosinwat told