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    THAI   TH0245010002

THAI AIRWAYS INTERNATIONAL PUBLIC COMPANY LIMITED

(THAI)
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Thai Airways, under bankruptcy protection, appoints chair, ex-CEO to rehabilitation body

05/27/2020 | 08:17am EST
Thai Airways idle airplanes are seen parked on the tarmac of Suvarnabhumi Airport in Bangkok,

Thai Airways International on Wednesday said it appointed board members as rehabilitation planners in a bankruptcy court submission.

The court accepted the airline's request for bankruptcy protection earlier in the day, setting the first hearing for August 17. It gave creditors until three days before then to submit objections.

The rehabilitation committee comprises the flagship carrier's chairman Chaiyapruk Didyasarin, acting president Chakkrit Parapuntakul and three newly appointed board members, including its former CEO, Piyasvasti Amranand.

EY Corporate Advisory Services Limited will also participate.

The court's decision to agree to bankruptcy protection prompted local rating agency TRIS to downgrade the airline's senior unsecured debentures to default because the airline was given an automatic stay on debt.

TRIS said it would reassess the rating after there was agreement on the rehabilitation plan.

(Reporting by Chayut Setboonsarng and Panarat Thepgumpanat; Editing by Ed Davies and John Stonestreet)


© Reuters 2020
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Analyst Recommendations on THAI AIRWAYS INTERNATIONAL PUBLIC COMPANY LIMITED
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Financials
Sales 2021 188 B 5 590 M 5 590 M
Net income 2021 -2 415 M -71,7 M -71,7 M
Net Debt 2021 - - -
P/E ratio 2021 -1,05x
Yield 2021 -
Capitalization 7 247 M 215 M 215 M
Capi. / Sales 2021 0,04x
EV / Sales 2022
Nbr of Employees -
Free-Float 48,7%
Chart THAI AIRWAYS INTERNATIONAL PUBLIC COMPANY LIMITED
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Income Statement Evolution
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Mean consensus SELL
Number of Analysts 7
Last Close Price 3,32 
Average target price
Spread / Average Target -
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Managers and Directors
Suvadhana Sibunruang Chief Executive Officer
Chai Eamsiri Chief Financial Officer
Surachai Piencharoensak Executive Vice President-Technical
Pongtorn Thepkanjana Executive Vice President-Operations
Amnart Jeeramaneemai Independent Director