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Thai Airways' record $900m loss wipes out shareholder equity

National flag carrier's shares suspended after auditor questions airline's future

Liabilities at Thai Airways ballooned to 332.1 billion baht as of June, up nearly 37% from the end of 2019. (Photo by Akira Kodaka)

BANGKOK -- Thai Airways International has revealed the damage to its financial status inflicted by the coronavirus pandemic, which gave it a final push to give up the idea of self-resuscitation.

The cash-strapped national flag carrier's net loss for the first half of this year was 28 billion baht ($900 million), according to financial results released on Friday. The loss ballooned 4.4-fold compared to the same period the previous year, marking the largest retreat for the first half of a fiscal year since comparable data became available in 2007.

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