More help for Thai Airways

A government panel is stepping up to help debt-ridden THAI pass any regulatory and contractual hurdles ahead of the carrier's planned debt rehabilitation, according to Prapas Kong-Ied, DG of the State Enterprise Policy Office. A state-appointed committee following up on the airline's rehabilitation, headed by Deputy PM Wissanu Krea-ngam and with Prapas sitting as a member, will arrange the help, he said. The airline turned to the government because it has many contracts with trading partners and legal obligations that can only be resolved with the state's help. These problems should be cleared before THAI enters rehabilitation, Prapas said Thursday. Prapas said the airline formally asked the Wissanu committee to coordinate with the government during a meeting on Monday when THAI acting president Chakkrit Parapuntaku presented a progress report on the carrier's rehabilitation plan which will next go to the Central Bankruptcy Court (CBC). THAI needs to stay in business to generate revenue and pay off 244.9b baht of outstanding debt to national and international creditors. The airline will address the court and try to convince creditors the rehabilitation plan will work, Prapas said. The airline specifically needs the government's help in reallocating slots for its flights.<br/>