Thai Air plans $1.27b share sales to exit debt plan

Thai Airways International expects to raise as much as 44b baht ($1.27b) from a share rights offering, the carrier’s final major step to exit a court-supervised debt restructuring and allow the resumption of the trading of its stock. Thailand’s flag carrier set the share price for its 9.82b new shares for existing shareholders at 4.48 baht, according to its exchange filing late Tuesday. Each holder of existing stock can purchase 4.5 new shares, it said. The airline, like regional rivals, is benefiting from a post-pandemic travel boom since 2023 that has boosted earnings and cash flow. The turnaround prompted Thai Airways to order a new fleet of Boeing and Airbus jets to expand flights and destinations. “Thai Airways has gone a long way from a near collapse to its strong emergence to become a dominant player in the global aviation industry again,” Piyasvasti Amranand, the court-appointed debt administrator, said at a press briefing Wednesday. “Strong business outlook and attractive share price should help Thai Air achieve the capital raising through rights offerings.”<br/>