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People’s party questions why government wants control of THAI Airways

People’s party questions why government wants control of THAI Airways

13 Sept 14:04 Key points summarised by AI
  • The opposition People’s Party questions the government's attempt to regain control of THAI Airways as the national carrier prepares to exit court-sanctioned rehabilitation.
  • The government proposes appointing two new managers to THAI's five-member planning panel, aiming to secure a majority vote on critical financial decisions.
  • This proposed majority would allow the government to control debt-to-equity swaps and share price reductions, potentially disadvantaging other creditors.
  • Concerns are raised about potential government interference in THAI's operations, recalling past financial losses from aircraft purchases, and the source of funds for new share capital.
  • The People's Party urges creditors to reject the proposed managers, arguing the planning panel should represent creditors' interests, not shareholders'.
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