ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Transportation

Thai Airways takes next step in balance sheet rehab plan

Carrier to cut registered capital by 19% as part of court-backed restructuring

Thai Airways' rehab plan aims to bring the airline back to profitability by 2025, but much depends on recovery of the air travel market, which has been hit hard by the COVID-19 pandemic.   © Reuters

BANGKOK -- Thailand's loss-making flag carrier Thai Airways International has proceeded with a plan to reduce its registered capital by 19% as part of a court-approved rehabilitation to improve its balance sheet.

The company will decrease registered capital from 26.9 billion baht ($822 million) to 21.8 billion by writing off unissued and unsold shares as stipulated in its rehabilitation plan, Suvadhana Sibunruang, the acting CEO, said on Friday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more