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THAI creditors delay vote on debt restructuring plan

THAI delayed a vote on its restructuring plan by a week after some creditors pushed for changes and sought time to study some last-minute tweaks unveiled by the administrator. The creditors will now meet again on May 19 after 20 of them proposed postponing the vote, Thai Air said in a statement. At Wednesday’s meeting held by video conference, some debtholders sought more clarity about details of the restructuring plan which included some changes, the carrier said. The carrier’s stock swung between gains and losses before closing 3.7% higher in Bangkok. The stock has tumbled 45% since the exchange lifted a trading suspension on April 16. The national flag carrier needs more than 50% of creditors to accept its plan, which is part of measures to help it return to profitability as it navigates the devastation wreaked on the global travel industry by the pandemic. The airline, which has total liabilities of at least $11b, in March proposed a three-year freeze on loan repayments in one of the nation’s most high-profile restructurings.<br/>

ANA trials IATA Travel Pass

ANA has become the latest airline to carry out trials of the IATA Travel Pass, a digital health passport created by the IATA. The Japanese carrier has invited customers to take part in the trial on its Tokyo Haneda-Honolulu and Tokyo Haneda-New York JFK routes from May 24 until June 6. See a table of the flights included in the trial at the end of this news story. The IATA Travel Pass app enables passengers to receive Covid-19 test results and verify they are eligible to undertake their journey through an ‘OK to Travel’ status. <br/>

Air New Zealand to launch half-price airfare club to entice spontaneous travel

Air New Zealand is to launch a discount airfare club, which could slash fares by 50%. The national carrier is launching a subscription service that provides heavily discounted last-minute fares. It will be called the Grabaseat Gotta Getaway and will initially be run as a trial. For a $95 annual fee, travellers will receive up to 50% off return domestic flights around New Zealand when booked within seven days of travel. The scheme is designed for those who want a getaway at the drop of a hat. The year-long trial will be open to 1000 people, who can apply from Wednesday May 12. To be eligible, you will need to be registered with Grabaseat, be an Airpoints member and have travelled on the airline in the past 12 months. Those who meet the criteria will be emailed today asking if they would like to register interest. Air New Zealand's chief customer and sales officer, Leanne Geraghty, expects the scheme to be hugely popular. “Our customer research is telling us there is growing demand for spontaneous travel coming from Kiwis. Typically closer to travel, because of the dynamics of demand and supply, prices are sometimes a little bit higher – which might dampen the ability for some of that spontaneous travel. So we have been working to come up with a concept that would help us meet that market.”<br/>