According to the media release, Thai Airways will be filing for bankruptcy and restructuring after badly affected by the impact of the COVID-19. Thai Airways had reported having a loss since 2017.
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TOTAL LOSS REPORTED
2017 – $65.8 Million
2018 – $361.9 Million
2019 – $374.3 Million
It is reported that the airline is $9.4 billion in debt. Due to COVID-19 Thai Airways had stopped all flights after the announcement of the travel ban. All staff are currently put on leave with a reduced salary.
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As part of the restructuring plan, the number of staff, fleet and flight were likely to be reduced.