THAI CEO dismisses speculation that the airline is in financial crisis
Thai Airways International does not have a liquidity problem and it has sufficient revolving funds to
continue operations into the future, THAI CEO Mr Sumet Damrongchaitham assured today.
Dismissing speculation that the national flag carrier is in deep financial crisis and suffering from a
liquidity shortage, he told the media that THAI has managed to reduce its debt burden successfully and
steadily since 2013.
Although the airline is still committed to its rehabilitation plan and is facing fierce competition, Mr
Sumet claimed that the company has cut its debt burden by about 48 billion baht since 2013 and
updates reports on its debt burden, to the Transport and Finance ministries and the Public Debt
Management Office, on regular basis.
For the 2020 fiscal year, he said that the national flag carrier plans to secure a new 32 billion baht loan
to refinance its old loans and to be used as revolving funds for the airline’s operations, including
maintenance costs and spare parts acquisition.
Mr. Sumet said that the airline is trying to address its operating losses while maintaining a healthy
THAI’s revolving credit line and revolving fund at the end of June amounted to 13.4% of its projected
revenue for the whole year, he said, as he assured that the airline has sufficient revolving funds.