Thai Airways International, Thai AirAsia X, and Nok Air are strategizing fundraising initiatives to exit rehabilitation and introduce flights to both familiar and new destinations.
Wutthiphum Jurangkool, CEO of Nok Air, informed the Nation Group media outlet Thansettakij on Monday that he is confident the airline will successfully exit the rehabilitation program within two years or by 2026. He highlighted progress in negotiations on aircraft lease agreements, enhanced aircraft utilization rates, and revenue generation from new services like an airport lounge and air cargo, resulting in the airline’s first profit in nine years.
Meanwhile, Tassapon Bijleveld, CEO of Thai AirAsia X, disclosed plans for a fundraising goal of 1 billion baht to facilitate the airline’s departure from its rehabilitation plan this year. The company is contemplating options such as a stock offering to existing shareholders or new investors to achieve this objective.
Additionally, Thai Airways International’s management is actively pursuing fundraising strategies to exit the rehabilitation plan and potentially relist the airline on the Stock Exchange of Thailand. The Finance Ministry intends to inject 12 billion baht into Thai Airways International to increase the government’s shareholding in the company to 40%, although it will not transform THAI into a state enterprise.
Rat Raksamruaj, THAI’s director of corporate finance, mentioned plans for fundraising in the fourth quarter of this year, focusing on offering new stocks to current shareholders and interested employees. The airline aims to convert 80 billion baht of debt into equity by the end of December to successfully exit the rehabilitation plan, setting the stage for a relisting on the Thai stock market in 2025.
