Thailand's Finance Ministry expresses support for Thai Airways restructuring plan

4 March, 2021

Thailand's Ministry of Finance reported it is in support of Thai Airways' restructuring plan, which includes raising THB50 billion (USD1.6 billion) of fresh capital and reducing the workforce by 13,000 to 15,000 employees by 2022 (Bloomberg, 03-Mar-2021). State Enterprise Policy Office director general Pantip Sripimol stated the ministry and other creditors are "quite satisfied" with the option, adding it should help to "increase the possibility of the plan being approved". Ms Sripimol added: "We can understand that it will take longer to get the money back given the current situation".