Latest news with #ChaiEamsiri
Bangkok Post
22-07-2025
- Business
- Bangkok Post
THAI expects relisting, to resume trading in August
Thai Airways International (THAI) expects to resume trading on the Stock Exchange of Thailand (SET) early next month, while reaffirming its commitment to the maintenance, repair, and overhaul (MRO) investment at U-Tapao Airport. CEO Chai Eamsiri said Monday the company is awaiting confirmation of the official relisting date this week. Although global markets have been affected by recent US tariff policies, THAI only anticipates a limited indirect impact. The company views its return to the SET as an attractive opportunity for investors, particularly with the high tourism season approaching. THAI remains confident in its financial stability following a successful rehabilitation, Mr Chai said. On June 16, the Central Bankruptcy Court officially lifted the airline's rehabilitation status after it met all conditions outlined in its restructuring plan. These included a capital increase to support equity restructuring; full compliance with debt repayment terms; achieving earnings before interest, taxes, depreciation and amortisation (EBITDA) of 40.3 billion baht -- well above the 20-billion-baht benchmark -- and returning to positive shareholder equity; and the appointment of a new board of directors. Despite the second quarter typically being a low season, Mr Chai said, THAI reported a solid performance. Passenger traffic from China has remained steady, mostly comprising independent travellers and transit passengers. The airline, meanwhile, has seen increased passenger numbers from Europe during this period. Regarding the MRO project at U-Tapao, Mr Chai addressed the recent cabinet resolution that revoked THAI's access to land in the Eastern Economic Corridor (EEC), following its transition from a state enterprise. He said the company expects the EEC Office to either reopen the project for bidding under a public-private partnership model or offer the site under a lease agreement. THAI reaffirmed its commitment to the project, highlighting its potential to stimulate investment and economic growth.
Reuters
14-07-2025
- Business
- Reuters
Thai Airways could firm up Boeing order as part of tariff talks, CEO says
SINGAPORE, July 9 (Reuters) - Thai Airways International ( opens new tab could exercise an existing option to buy more planes from U.S. planemaker Boeing (BA.N), opens new tab as part of Thailand's tariff negotiations with the United States, CEO Chai Eamsiri told a Reuters NEXT Asia summit on Wednesday. The flag carrier in February last year said it had ordered 45 Boeing (BA.N), opens new tab 787-9 wide-body jets with options for a further 35. Thailand has submitted a new trade proposal to the United States in a bid to avoid steep tariff hikes on its own products. Thai Finance Minister Pichai Chunhavajira said on Sunday the country could purchase more Boeing aircraft as part of its trade talks with Washington, in an interview with Bloomberg News. Eamsiri confirmed the finance minister was referring to Thai Airways' option to buy 35 more 787s. In June, Thai Airways exited its debt restructuring programme and said it expects to resume trading its shares on the stock market by early August. Thailand's national airline began a bankruptcy-protected restructuring of debt worth 400 billion baht ($11.17 billion) in 2021, reducing its workforce by half and trimming its fleet. Eamsiri said the airline is operating with around 75% of the seat capacity it had before the pandemic, but its revenue has surpassed pre-COVID levels. "Our efficiency is better than in the past," he told the panel. Eamsiri said the airline has no plans to resume direct flights to the United States, despite the U.S. upgrading Thailand's air safety rating this year to permit direct flights. Eamsiri said the airline's current fleet could not operate such long-distance flights efficiently, and also noted that the U.S. market was a "big risk" in the current context of tariff negotiations. Thai Airways stopped flying to the United States in 2015, the same year as the U.S. Federal Aviation Administration downgraded Thailand's air safety rating to "Category 2", preventing Thai airlines from launching or expanding services to the United States. To view the live broadcast of the World Stage go to the Reuters LIVE page:
Bangkok Post
09-07-2025
- Business
- Bangkok Post
Thai Airways ‘has no plans' to resume direct US flights
SINGAPORE - Thai Airways International has no plans to resume direct flights to the United States, despite the US upgrading Thailand's air safety rating this year to permit them, CEO Chai Eamsiri said on Wednesday. Addressing the Reuters NEXT Asia summit in Singapore, Mr Chai said the national carrier's current fleet could not operate such long-distance flights efficiently. He also noted that the US market was a 'big risk' in the current context of tariff negotiations. THAI stopped flying to the United States in 2015, the same year as the US Federal Aviation Administration downgraded the country's air safety rating to Category 2, preventing Thai airlines from launching or expanding services to the United States. Mr Chai also told the Singapore conference that Thai Airways existing option to buy more planes from Boeing as part of Thailand's tariff negotiations with the United States. The flag carrier in February last year said it had ordered 45 Boeing 787-9 wide-body jets with options for a further 35. Thailand has submitted a new trade proposal to the United States in a bid to avoid a steep 36% tariff on its own products starting on Aug 1. Finance Minister Pichai Chunhavajira said on Sunday the country could purchase more Boeing aircraft as part of an agreement with Washington. Mr Chai confirmed the finance minister was referring to Thai Airways' option to buy 35 more 787s. In June, THAI exited its debt restructuring programme and said it expects to resume trading its shares on the stock market by early August. The carrier began a bankruptcy-protected restructuring of debt worth 400 billion baht in 2021, reducing its workforce by half and trimming its fleet. Mr Chai said the airline is operating with around 75% of the seat capacity it had before the pandemic, but its revenue has surpassed pre-Covid levels. 'Our efficiency is better than in the past,' he said.
Yahoo
09-07-2025
- Business
- Yahoo
Thai Airways has no plans to resume direct US flights, CEO says
SINGAPORE (Reuters) -Thai Airways International has no plans to resume direct flights to the United States, despite the U.S. upgrading Thailand's air safety rating this year to permit direct flights, CEO Chai Eamsiri told a Reuters NEXT Asia summit on Wednesday. To view the live broadcast of the World Stage go to the Reuters LIVE page: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Straits Times
16-06-2025
- Business
- Straits Times
Thai Airways exits debt restructuring plan with Court approval
BANGKOK – Thai Airways International won court approval to exit a debt restructuring program, paving the way for resumption of trading in its stocks after a four-year gap. The Central Bankruptcy Court in Bangkok on June 16 granted the national carrier's plea to emerge from the court-supervised debt rehabilitation. The airline successfully completed the restructuring as it managed to increase capital as specified under the plan, restructure business its without any delay, and generate profit before tax, the court said in a statement. The exit will now allow the company to carry out normal business operations five years after it fell into pandemic-triggered financial distress with more than 400 billion baht of debt. Trading of the company's shares may also resume in late July or early August following the court's decision, Thai Airways has said. 'It's now the duty of the new board to ensure sustainable growth of Thai Airways as the court-appointed debt rehabilitation team members have laid the groundwork for the company's business expansion,' Piyasvasti Amranand, court-appointed debt administrator, told reporters. The airline is currently benefiting from a post-pandemic travel boom, which has boosted its earnings and cash flow. Its improved financials have allowed it to order a new fleet of Boeing and Airbus jets to support its expanding operations. Thai Airways saw its net income jump fourfold in the first quarter of this year as the number of passengers it served rose more than 11 per cent from a year earlier. The airline sees strong bookings in the second quarter, led by rising demand for its flights to Europe, Australia and India, CEO Chai Eamsiri said in May. The airline appointed a new board of directors in April, including two senior officials from the Finance Ministry, to prepare for the debt program exit. The ministry's permanent secretary Lavaron Sangsnit is among the 11-member board. As part of the rescue plan, the carrier's creditors agreed to convert about 53 billion baht of debt into shares. It also sold about 23 billion baht in new shares to existing shareholders to boost its capital. Thai Airways' shareholder equity returned to a surplus after completing the debt-to-equity conversion and rights offering. It had a negative shareholder equity of about 27 billion baht after years of losses. 'We have a lot of financial strength in Thai Airways to continue our expansion and success in the competitive air travel industry,' Mr Chai said in a statement. 'Thai Air's main mission is to sustain its long-term growth and push for Thailand as the region's aviation hub.' BLOOMBERG Join ST's Telegram channel and get the latest breaking news delivered to you.
