Thai Airways aims for stock market return by next year

Thai Airways International (THAI) expects to exit rehabilitation and be relisted on the Stock Exchange of Thailand (SET) by the second quarter of next year, according to Piyasvasti Amranand, chairman of the airline's debt rehabilitation administrator. The development follows the airline's record-high profits of 28.1b baht last year and a steady rise in earnings in the first half of this year, which Piyasvasti said was due to a successful three-year rehabilitation. He said the shareholders' financial statement showed 40.42b baht in the red as of June 30 this year. Piyasvasti said the airline aims to write off the remaining debt in the shareholder financial statement through a new capital restructuring plan, which is a part of the rehabilitation. He said that the plan includes a debt-to-equity swap programme and rights offerings, or the offering of additional shares to existing shareholders, which will prepare THAI for the targeted relisting.<br/>