BANGKOK – Thai Airways has been given a final warning by the nation’s government: Put your house in order or there will be no more bailouts.
Prime Minister Prayut Chan-o-cha has told the national carrier it must not waste the latest support package.
“This is an enterprise that we have to rehabilitate and this is the last chance we have to manage the issue so it does not get worse,” he told a news briefing.
The Nation newspaper reports the Finance Ministry has guaranteed billion-dollar baht loans worth around US$1.79 billion to the struggling airline, which has posted three successive years of financial losses and is currently grounded due to Covid-19 restrictions.
“This is the last time that Thai Airways will receive support from the government. If the situation worsens, there will be a complete structural overhaul [of the airline],” the PM said.