Plans to create a new national airline to replace Thai Airways, in order (seemingly) to circumnavigate creditors are meeting with significant opposition from employee unions. However with the government refusing to increase its stake in the airline, the issue is firmly a political one. The Finance Ministry reduced its ownership to 47% in order to make Thai Airways eligible for debt rehabilitation. The airline is now in the next stage of proceedings seeking assistance through the Central Bankruptcy Court to wipe-out some of the 300 billion baht of debt the airline is currently holding. The unions want the government to
This content is restricted to site members.
If you are an existing user, please login below.
New users may register below.