THAI denies bankruptcy reports
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THAI Airways International (THAI) has denied reports that the company is on the verge of going bankrupt.
Speculation circulating on social media channels and online message boards this week suggested that the national carrier was on the verge of financial collapse. But the company issued a statement on Tuesday (7 January 2014) dismissing the talk as “rumours”.
“Since its establishment, THAI has met all debt payments even with low operating results in the past. Therefore, the company will not go bankrupt as it has never missed debt payment since it was established,” the THAI statement said.
It also denied that flight delays on Sunday 5 January 2014 were caused by staff protests. Instead, the airline blamed a lack of manpower at Bangkok’s Suvarnabhumi Airport for causing a “work slowdown”, and said that staff shortage has now been rectified.
THAI suffered a pre-tax loss of THB6.98 billion (US$211 million) for the first nine months of 2013, but stressed that the company still has “financial stability [and] a well-prepared plan”. It added however, that it is “considering to adjust its strategy in order for the company to have a better operating result on a regular basis”.
THAI’s president, Dr Sorajak Kasemsuvan, left the company last month.
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