Gov't to pump another $325mn into Thai Airways

Thailand's Ministry of Finance intends to invest another THB12b baht (US$325.5m) in Thai Airways International by October 2024 and aims to relist the company on the Stock Exchange of Thailand by mid-2025. The DG of the Finance Ministry's State Enterprise Policy Office, Tibordee Wattanakul, told the Bangkok Post that Thai's financial performance had improved dramatically due to reductions in expenses, improvements in operational efficiencies, and a strengthening local currency. Thai Airways is in the final stages of a court-supervised business rehabilitation that involves shareholders recapitalising the carrier. The Finance Ministry will retain a stake of around 40% in the airline, with majority control passing from the government to the private sector. The plan for the capital injection and relisting on the stock market is subject to approval from the supervising court. This approval is expected to be granted later this year. Tibordee said the funding from the ministry would come from the 2025 fiscal budget and the Vayupak Fund, a state-owned sovereign wealth fund.<br/>