24 December 2020
Mr. Chansin Treenuchagron, Acting President, Thai Airways International Public Company Limited (THAI), provided details of the progress on the Company’s rehabilitation, its current situation, 2020 operations summary and 2021 plan to the media in the Meet the Press session at THAI Head Office. Also present were Mr. Chai Eamsiri, THAI Acting Executive Vice President, Finance and Accounting, Mr. Nond Kalinta, THAI Acting Executive Vice President, Corporate Strategy and Sustainable Development, Mr. Suvadhana Sibunruang, THAI Acting Executive Vice President, Aviation Business Unit, Mr. Cherdphan Chotikhun, THAI Executive Vice President, Technical Department, Sqn. Ldr. Aniruth Sangrit, Acting THAI Executive Vice President, Operations Department, Flying Officer Nathachai Chandrsuda, Acting THAI Vice President, Human Resources, Mr. Jesada Chandrema, Acting THAI Vice President, Sales, Mr. Chawan Ratanawaraha, Acting Chief of Transformation Officer, and Mrs. Charita Leelayudth, THAI Smile Chief Executive Officer.
As part of the progress in the preparation of the business reorganization plan for THAI, Mr. Treenuchagron revealed that at present, all involved persons are fully committed to the preparation of the business reorganization plan. Aside from preparing the business reorganization plan for presentation to the official receiver, THAI has prepared other parts of the plan in conjunction with the business reorganization plan; whether it be business plans, flight plans, as well as an appropriate corporate restructuring plan to enable its readiness to provide services and increase its competitiveness within the aviation industry when the COVID-19 pandemic is resolved. The aforementioned undertaking has significant minor details which must be carefully considered. Mr. Treenuchagorn further stressed that the classification of creditors and setting of terms and conditions of the debt repayment will be considered fairly and in accordance with the law, under which the creditors will definitely receive greater repayment under the business reorganization plan than in the event of THAI becomes insolvent. Additionally, the planner will give as much attention as possible to the opinions and comments of the creditors for incorporation into the business reorganization plan. Over the course of this process, THAI has also held meetings to hear the opinions and comments of different types of creditors and will further reveal the information and clarify on the details of the business reorganization plan to creditors once it has been completed. Mr. Treenuchagorn reiterates that the success of THAI's business reorganization will require the cooperation of all sides, including all creditors and employees, and that even though THAI cannot at presently resume flight operations due to the effects of the COVID-19 pandemic in addition to regional travel restrictions to control the spread of disease, THAI remains fully committed to reducing operating costs as well as presenting a business reorganization plan that acclimates to the aforementioned pandemic, as well as the economic situation, for the greatest benefit of the creditors.
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