Search

THAI AIRWAYS LAYS OFF EMPLOYEES TO AVOID BANKRUPTCY

... The company has been facing financial difficulties since 2012, but the COVID-19 pandemic has made the situation even worse. Thai Airways, like many air carriers around the world, has cut capacity. Travel restrictions and falling demand have rendered ... ... the company's debt (about 78%) falls on bond payments. On May 19, 2020, the company was forced to apply to court and launch a bankruptcy protection proceedings similar to that provided for by the US law. Since the use of wide-body airliners has lost its relevance in the face of a reduction in tourist flow, and many aircraft were simply mothballed, the company ...

Sorted by relevance | Sort by date