Future's bright as THAI rebounds
The aviation business was plunged into an unimaginable depth of despair during the more than two years of the Covid-19 pandemic, which has also set a new rule for the industry: shape up or ship out. Among the noted casualties has been the national flag carrier, Thai Airways International (THAI). In reality, the airline was in a precarious position before Covid-19 came along. The pandemic pushed the carrier, that had been on the verge, into bankruptcy. The Central Bankruptcy Court approved a recovery plan in September<br/>2020 after the coronavirus pandemic grounded most of its fleet as borders gradually shut, grinding air travel to a halt. THAI's total liabilities stood at 338.9b baht against total assets of 298.9b baht as of Sept 30 that year. The airline fought for its life by adopting drastic internal restructuring and implementing "survival" measures including foregoing half of its aircraft fleet. By biting the bullet, it managed to stabilise its debt situation and its losses narrowed as a result. THAI seems to be looking up based on this year's numbers. Story has chronology of how the situation unfolded for the flag carrier.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2023-01-02/star/futures-bright-as-thai-rebounds
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Future's bright as THAI rebounds
The aviation business was plunged into an unimaginable depth of despair during the more than two years of the Covid-19 pandemic, which has also set a new rule for the industry: shape up or ship out. Among the noted casualties has been the national flag carrier, Thai Airways International (THAI). In reality, the airline was in a precarious position before Covid-19 came along. The pandemic pushed the carrier, that had been on the verge, into bankruptcy. The Central Bankruptcy Court approved a recovery plan in September<br/>2020 after the coronavirus pandemic grounded most of its fleet as borders gradually shut, grinding air travel to a halt. THAI's total liabilities stood at 338.9b baht against total assets of 298.9b baht as of Sept 30 that year. The airline fought for its life by adopting drastic internal restructuring and implementing "survival" measures including foregoing half of its aircraft fleet. By biting the bullet, it managed to stabilise its debt situation and its losses narrowed as a result. THAI seems to be looking up based on this year's numbers. Story has chronology of how the situation unfolded for the flag carrier.<br/>
