Thai Airways' administrators reveal share placement strategy

The rehabilitation plan of Thai Airways International (TG, Bangkok Suvarnabhumi) continues to exceed expectations, with the airline finding itself earning more revenue, generating bigger profits, and needing less financial assistance than previously forecast. The airline made a 3.9b baht (US$111.2m) operating profit in 3Q 2022. At the same time, plans for a 5b baht credit facility have been dropped in favour of a much smaller 2.5b baht facility involving long-term loans and short-term revolving credit. Thai's recovering fortunes are also accelerating plans for a stock market relisting originally planned for 2025. On November 29, the Thai government cabinet was briefed on the progress of the airline's rehabilitation plan and how it planned to reorganise its capital structure. Ahead of an anticipated return to trading on the Thai stock exchange (SET), the airline's administrators told the meeting that registered capital will not exceed 31.5b shares, with that amount deemed enough to keep the airline capital positive and financially stable. Story has more details.<br/>