Angel Air denied reports that it was set to close down and said it was merely restructuring.
"The airline is not closing permanently, rather it has temporarily suspended flights," Peeranan Ruangkrit of Angel Air’s corporate public relations department said in the in Bangkok Post on Wednesday.
She said media reports that the airline planned to close were "not true".
She also denied a local newspaper report that said United Communication Industry (Ucom) was one of the airline’s owners. Ucom also denied it owned a share of Angel.
"Ucom would like to inform that the company does not have any stake in Angel Airlines as has appeared in the news," Ucom senior director Nopadol Thongprasert said in a statement published on The Stock Exchange of Thailand website.
A number of cabin crew have left Angel Air to join other airlines including Thai Airways International, Alitalia, China Airlines and Japan Air Lines. Staff were reportedly unhappy with the way Angel Air management handled salary cuts made earlier this month.
Hit with an aircraft shortage over recent months, Angel Air suspended its remaining services on June 1, which included four flights a week to Chengdu in China and five flights to Kunming (one via Chiang Rai) using a Boeing 757-200 on wet lease from China Southwest Airlines.
A restructuring programme is underway, under the eye of aviation expert Virachai Vannukul. Negotiations have been carried out with different parties to secure new aircraft to both resume existing routes and launch new services in the Mekong region.
Virachai was in the US last week for what is believed to have been talks to secure new aircraft. There is also talk of an Israeli company being drawn into the equation to operate flights between Israel and Thailand, possibly as an interim solution until the restructuring is completed.
Angel Air president and chief operating officer Somchai Bencharongkul was not available for comment at press time, but an official statement released by the airline last week said it hoped the restructuring would "be finalised soon so that services will be resumed without delay."