【duarte coat of arms】Thai Airways rescue plan is its last chance, says PM
BANGKOK (Reuters) - Theduarte coat of arms government is ready to back a rescue package for Thai Airways International Pcl Seeking union support for the plan, drafted amid a global travel slump caused by the coronavirus outbreak, Prayuth Chan-ocha said adjusting the airline's organisational structure and headcount would be challenging. "This is an enterprise that we have to rehabilitate and this is the last chance we have to manage the issue so it does not get worse," he told a news briefing. The package, details of which have not been confirmed, has not yet been submitted to cabinet, he said. The majority state-owned airline is seeking a loan of 58.1 billion baht ($1.79 billion) guaranteed by the Ministry of Finance to stop it from running out of money, according to a draft of the plan seen by Reuters last week. In exchange, the carrier would agree to cut its fleet size and lay off staff, the documents showed. The flagship carrier, in which the ministry holds a 51% stake, was in financial difficulties before the coronavirus outbreak, having reported losses since 2017. In March it suspended flights as travel demand slumped, and its president resigned after less than two years in the job. The Thai Airways Union said it would cooperate with a "clear plan" that succeeded in rehabilitating the carrier. But it was concerned about the risk of interference from outside interests. Because the airline is a state enterprise, major investment decisions such as aircraft procurement require approval from multiple government agencies, potentially exposing it to influence from third parties. "The union ... will be against any policy with a hidden agenda that damages the airline and benefits certain groups," its President, Nares Peung-yaem, told Reuters. (Reporting by Chayut Setboonsarng and Panarat Thepgumpanat; editing by John Stonestreet) View comments
-
Ferro (FOE) Beats Q3 Earnings and Revenue EstimatesLOPE SHAREHOLDER ALERT: Lawsuit Filed For Grand Canyon InvestorsEMERGING MARKETS-Latam stocks weaken as risk rally pausesPayments on mortgages to be suspended across Italy after coronavirus outbreakGenius Brands International Promotes Michael Jaffa to Chief Operating OfficerMike Bloomberg thinks a gun-control pitch works … in TexasGlobal Flavored Water 2019 - Key Insights and Drivers Behind the Flavored Water Market PerformanceCaptionCall Supports “Military Makeover with Montel”IMPORTANT INVESTOR NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Inovio Pharmaceuticals, Inc. and Encourages Investors with Losses in Excess of $500,000 to Contact the FirmZuora's (ZUO) Loss Narrows in Q1, Revenues Increase Y/Y
下一篇:Wall Street dives 4% as virus pandemic fears intensify
- ·Peak Announces Initiation of Research Coverage by eResearch
- ·Canada Cardiac Rhythm Management Devices Market Outlook to 2025 - Cardiac Resynchronisation Therapy (CRT), Implantable Cardioverter Defibrillators (ICD), Implantable Loop Recorders (ILR) and Pacemakers
- ·Were Hedge Funds Wrong About Crowding Into RealPage, Inc. (RP)?
- ·Is housing a better investment than education?
- ·ETFs to the Rescue as Coronavirus Wreaks Havoc
- ·GOLO Mobile Inc. Retains Market Maker
- ·Culp: Q2 Earnings Insights
- ·Is Microsoft Corporation (MSFT) A Good Stock To Buy?
- ·Best & Worst Performing Stocks in Coronavirus Outbreak
- ·Nio Deliveries Jump 109% In November, Boosts Production Capacity To Keep Pace With Rising Demand
- ·Williams to Build 1-40 MW Solar Stations Across 9 US States (Revised)
- ·Merck (MRK) Stock Moves -0.81%: What You Should Know
- ·10x Genomics to Present at the BofA Securities 2020 Healthcare Conference
- ·Coronavirus Could Hold Up Annual Ocean Shipping Contracts
- ·People are getting this unexpected stimulus check. Should you keep it?
- ·The TriNet Group (NYSE:TNET) Share Price Has Gained 256%, So Why Not Pay It Some Attention?
- ·Blockchain Industries Appoints New Board Members
- ·Global Flavored Water 2019 - Key Insights and Drivers Behind the Flavored Water Market Performance
- ·Top Ranked Growth Stocks to Buy for June 4th
- ·Trump calls for shift in coronavirus strategy to allow for end to lockdowns
- ·Recap: eXp World Holdings Q1 Earnings
- ·'Big shoes to fill': UniCredit shares tumble as CEO Mustier quits
- ·Meal delivery firms branch out into groceries during crisis
- ·The TriNet Group (NYSE:TNET) Share Price Has Gained 256%, So Why Not Pay It Some Attention?
- ·Lam Research unveils improved tool to make 3-D chips for phones, devices
- ·MORNING BID-Between stimulus euphoria and virus dejection
- ·Intrepid Congratulates East Plant Employees on Record Monthly Domestic Sales Volumes in April
- ·Trump, Macron weigh UN leaders' meeting on coronavirus -White House
- ·Before You Buy IBI Group Inc. (TSE:IBG), Consider Its Volatility
- ·Estimating The Intrinsic Value Of The Hain Celestial Group, Inc. (NASDAQ:HAIN)
- ·Camber Energy, Inc. and Viking Energy Group, Inc. Amend Definitive Merger Agreement Relating to Their Planned Combination and Provide Update on Status of Merger
- ·Gold ETFs Attain Record YTD Inflows Amid Global Uncertainties
- ·To the millions of parents who didn’t choose to homeschool: This is a unique opportunity
- ·IRS offers new relief options to help with tax bills during coronavirus pandemic
- ·Why SkiStar AB (publ)'s (STO:SKIS B) High P/E Ratio Isn't Necessarily A Bad Thing
- ·Expanse Integrates with ServiceNow