Thai Airways International Public Company Limited (SET: THAI) is aiming to emerge from business rehabilitation by the second quarter of 2025, following ongoing capital restructuring throughout this year.
The airline revealed its new growth strategy, known as “Fly for the new pride,” with the goal of ensuring sustained profitability in the long run.
Piyasvasti Amranand, the Chair of Thai’s business rehabilitation plan executive committee, shared that the airline is in the process of capital restructuring. This restructuring includes converting existing creditor debt into capital and granting creditors the right to convert additional debt into capital.
Moreover, Thai Airways plans to offer additional common shares to existing shareholders to bolster its capital and prepare for relisting on the Thai bourse. Primarily, it is expected to be in the second quarter of 2025. The company also plans to offer a dividend payment to its shareholders at the amount not less than 25% of its net profit.
Following the completion of the restructuring by the year’s end, Thai Airways will establish a new board of directors and seek approval from the country’s Central Bankruptcy Court to exit rehabilitation.
It remains to be seen whether Thai Airways will cease to be a state enterprise as the Ministry of Finance and other government bodies will hold around 38-44% of stake in Thai Airways, which is identified as a major shareholder, but still lower than 50%.
