Thai Airways ( THAI ) received a much-needed boost on October 20 when the Federal Bankruptcy Court approved the airline’s request to revise its rescue plan. The news comes as THAI announced an 80% increase in passenger numbers this month and plans to double its flights to Melbourne, Australia in December.
Thailand’s flag carrier was ordered by a court to continue operations after a majority of its creditors supported the revised plan.
About 79% of lenders, including the Ministry of Finance, were reported to have approved THAI’s revised recovery plan.
THAI, like most businesses, has struggled in recent years due to the Covid-19 pandemic.
The airline filed for bankruptcy protection in late 2019 after declaring massive debts of 245 billion baht. In May 2020, the Cabinet gave the green light to the Bankruptcy Rehabilitation Scheme, which was subsequently approved by the Central Bankruptcy Court. But green shoots of recovery have sprouted in recent months.
In July, THAI announced it would lease three additional aircraft and hire 600 more people as part of its restructuring plans. Also, after cutting costs, selling stock, paying off debt and divesting airline seats, turnover has increased.
The Thai Enquirer reported an 80% increase in passenger numbers for the first 10 days of this month.
The airline reported an average of 17,554 passengers per day, up from 2,092 in January 2022.
THAI added that travel demand continued to increase in the first 9 months of the year due to the easing and lifting of restrictions and travel restrictions in countries around the world.
Meanwhile, THAI plans to operate double flights between Melbourne Tullamarine and Bangkok Suvarnabhumi from December 1, the site reported. simpleflying.com.
Flight Schedule Between Bangkok and Melbourne:
From Bangkok to Melbourne
TG461: Departs Bangkok at 8:20am and arrives Melbourne at 9:20pm.
TG465: Departs Bangkok at 12:05pm and arrives Melbourne at 1:05pm.
From Melbourne to Bangkok
TG462: Departs Melbourne at 12:30 PM and arrives Bangkok at 5:40 AM.
TG466: Departs Melbourne at 3:25pm and arrives Bangkok at 8:35pm.
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