Thai Airways International Plc will receive key financial support from the government for its 80 billion baht capital raising and debt-to-equity swap plan aimed at helping the state-controlled carrier come out of its pandemic-induced bankruptcy.
State-owned banks will lead in funding new loans, converting debt and injecting equity capital into Thai Airways as part of a revised revamp plan the airline gave the court for approval last month, Finance Minister Arkhom Termpittayapaisith said in an interview with Bloomberg News on Monday. The ministry and other agencies will continue to maintain a combined stake of at least 40%, but the proportion won’t exceed 50% to induce the carrier to stay competitive, he added.
