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Thai Airways targets mid-2021 for approval of turnaround plan

Carrier eyes revenue from COVID-19 vaccine flights and greater cargo demand

Thai Airways planes sit on the tarmac at Bangkok's Suvarnabhumi International Airport. The airline is trying to generate revenue from cargo flights.   © Reuters

BANGKOK -- Thai Airways International's turnaround plan is expected to receive court approval in mid-2021, at which time the flag carrier could proceed with debt restructuring, cost cutting and coronavirus-related projects designed to bring new revenue.

The plan being devised by the airline covers haircuts on company debt as well as the new revenue initiatives over the next few years, said Chansin Treenuchagron, acting president.

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