Thai Airways aims for 2024 completion of restructuring

Thai Airways International expects to complete its corporate restructuring in two years as the airline's performance gradually improves and global travel resumes, its restructuring committee chief said on Friday. Cabin factor, a measure of how well an airline does in filling seats, reached 70% by last month and was near 90% on European routes, Piyasvasti Amranand said. Thai Airways entered bankruptcy last year to restructure 400b baht ($11.25b) of debt and previously sought 50b baht of loans for liquidity. Thai state agencies will own about 40% of the airline after restructuring, down from current levels of 67%. The overhaul included re-hiring Piyasvasti, who was its president in a previous effort to steer the flag carrier out of financial trouble a decade ago. Thai Airways carried about 19m passengers before the pandemic and is targeting 9.18m next year, 11.8m in 2024 and 12.44m in 2025.<br/>