THAI union slams new airline plan

The workers union of THAI has voiced its opposition to any plans to establish a new flag carrier to replace the ailing national airline, saying far too much has been invested in the airline, which has contributed significantly to the economy. In a statement released on Tuesday, the union firmly rejected the idea, saying it would make much better sense to rehabilitate the ailing carrier, which already has a solid and internationally known brand. Finance Minister Arkhom Termpittayapaisith said there haven't been any discussions about turning the airline into a state-owned enterprise like it had been. It will be up to the airline's creditors to decide, he said. The government, through the Finance Ministry, was a majority shareholder in the airline -- but the airline lost its state-owned status last year when the ministry decided to reduce its stake to under 50% of the total, in order to facilitate the debt-rehabilitation process. With debts totalling over 300 billion baht, the airline is currently seeking to rehabilitate its finances through the Central Bankruptcy Court. The union urged the government to maintain its support for THAI's debt-restructuring efforts so that the airline can emerge stronger.<br/>