The amounts received by each of the beneficiary airlines are not known at this time, but the bank’s chairman, Rak Vorrakitpokatorn, said the support includes 3.5 billion baht ($105.5 million) in relief. debt and another 2.7 billion baht (about $81.5 million). additional lines of credit to preserve cash and staff.

After the shock of the first year of the pandemic, Thailand’s airline industry slowly started to recover in the fourth quarter of 2021.

This thanks to the easing of restrictions on entry into the country and the arrival of the first tourists. However, the reintroduction of stricter rules in mid-December in response to the Omicron variant has again sown uncertainty over the already fragile recovery of many airlines.

Like that of Thai Airways, for example, the Thai airline filed for bankruptcy protection in May 2020, due to a debt of more than 3 billion dollars. In September 2020, the Bangkok Central Bankruptcy Court ordered the airline to undergo a corporate restructuring program, which continued through 2021.

In October 2021, the trustees presented a progress report on the implementation of its restructuring process, noting that $39.09 million in debts had already been repaid to creditors and that debts will continue to be paid in accordance to the plan approved in June by the bankruptcy. to research.

Even in Italy, however, the company has had problems, having opened a collective dismissal procedure which concerns 21 employees out of a total of 31 in the 2 major Italian airports of Rome and Milan.

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