Thai Airways details creditor claims amounting to Bt85b

THAI has disclosed details of Bt85b ($2.7b) in creditor claims it received among others, citing these as “one of the reasons why the company has filed for the rehabilitation petition”. CIMB Thai Bank and Islamic Bank of Thailand requested in May the repayment of principal and interest due on promissory notes due the same month. These are in the principal amounts of Bt1b and Bt500m, respectively. Also in May, Thailand’s finance ministry demanded the June repayment of outstanding principal of an on-lent loan, amounting to E335m, since the company is no longer a state-owned enterprise. The carrier states that it has also defaulted on other creditor payments and has received letters demanding repayment “by other creditors who are business partners of the company”. The rest of the figure comes from all unredeemed debentures issued by the company, for which holders have demanded immediate repayment. These mature between June 2020 and November 2034, and have a collective face value of Bt71.6b.<br/>