By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Reading: The Future of Thai Airways
Share
Sign In
Notification Show More
Font ResizerAa
Font ResizerAa
Travel Radar - Aviation NewsTravel Radar - Aviation News
  • Breaking News
  • Aviation
    • Aircraft
    • Airlines
    • Airshow & Events
    • Careers
    • Manufacturing
  • Travel
    • Airports
    • Points & Loyalty
    • Technology
    • Trip Reviews
  • Newsletters
Have an existing account? Sign In
Follow US
Copyright © Travel Radar Media Ltd. 2024 | All Rights Reserved
Travel Radar - Aviation News > News > The Future of Thai Airways

The Future of Thai Airways

Olivia Newman
Last updated: 15 May 2021 12:56
By Olivia Newman 4 Min Read
Share
Thai Airways
Thai Airways International | © Arie Wubben via Unsplash
SHARE

With Thai Airways facing bankruptcy in 2020, the airline has had an even tougher year than expected, but it seems their future may be more grounded.

Summary
Thai Airways, So FarA Bad Year, Followed By Another OneThe Future of Thai Airways
The Future of Thai Airways
Thai Airways Creates a New Route for Its Business Plan | © Clay Lacy 

Thai Airways, So Far

With such a tough year and an uncertain future ahead, let us take a quick look back at how far the airline has come. Thai Airways International was founded in 1960 – a company born from Thai Airways Company (TAC) and Scandinavian Airlines System’s (SAS) joint move.

The History of Thai Airways
A life before | © Liem Bahneman 

Through 1971 to 1980, services began to fly to Australia, Europe and North America. The brand was modernised in 1975 with a new orchid logo and two years later TAC bought out the remaining shares owned by SAS. In 2005, Thai Airways made its own history by offering a non-stop flight from Thailand’s capital Bangkok to New York in the USA – the first service of its kind for the airline. The airline then had over a decade of wins and losses. Nevertheless, in 2019, Thai Airways set out plans for a new fleet and turned their focus to cost reduction.

A Bad Year, Followed By Another One

In September 2020, the Central Bankruptcy Court allowed Thai’s business reorganisation petition. Those who required repayment from Thai Airways could apply for refunds from the company. This offer extended to flyers who had their flights cancelled. Alternatively, customers could exchange their refund for a travel voucher.

Thai Airways were already facing heavy losses before coronavirus caused the cancellations of flights. In addition to the financial crisis COVID-19 was causing, the airline reported a loss of ฿12 billion in 2019. They had already asked for a bail-out from the Thai government, equating to a staggering ฿58.1 billion loan.  However, the Thai government agreed a plan of restructuring instead. This meant the airline could reorganise its debts, while remaining up in the air.

The Future of Thai Airways
A distant memory of Bangkok Airport | © Markus Winkler via Unsplash

However, the airline are not the only company struggling with finances, with the virus putting a strain on the entirety of the aviation industry. Thai Airways has currently limited its international flights until late March. The schedule has less destinations and most flights to these countries only depart on a return journey once a week. However, there is uncertainty when things will resume back to normal.

Thai Airways stated that a creditor’s meeting would be held early on this year to discuss where the business will go next. It was more recently confirmed to be taking place in February.

The Future of Thai Airways

Mr. Chansin Treenuchagron, the Acting President of the company, stated on the 13th January that the plan is still going ahead under the Bankruptcy Court. He also explained that there were many creditors and complex issues involved.

With a creditors’ meeting scheduled and the COVID-19 vaccine now in distribution, hopefully Thai Airways can return to its normal flying schedule soon.

With so many airlines facing similar turmoil and needing financial support, it seems the worst is still not over. What do you think lies ahead for Thai Airways?

You Might Also Like

Why You Should Visit Japan This Winter

Turkish Airlines set to make an Investvestment in Air Europa

Mexicana Takes Delivery of First Embraer E195-E2 Jet

Qatar Airways Resumes Flights to Iraq, Syria, Lebanon and Jordan

Singapore Airlines’ Financial Performance Results in Profit at End of Year 2024-25

Share This Article
Facebook Twitter Email Copy Link
What’s your thoughts?
Love0
Sad0
Happy0
Angry0
Olivia Newman
By Olivia Newman
Follow:
Olivia is a creative writer from London who loves to travel! She has a background in digital marketing, journalism and tutoring, and studied an MA in Creative Writing in Portsmouth. You'll often find her writing, reading or booking her next flight!
Previous Article Irkut MC-21 Prototype Skids Off Runway
Next Article Qatar Restarts Cairo-Bound flights
Leave a comment
Subscribe
Login
Notify of
guest
guest
0 Comments
Oldest
Newest Upvoted
Inline Feedbacks
View all comments

Stay Connected

FacebookLike
TwitterFollow
InstagramFollow
YoutubeSubscribe

Trending News

inside aircraft
Assistance and protection for vulnerable travellers : Proposal to reinforce EU passenger rights
Aviation Travel
Colourful houses at sunset in the capital of Greenland, Nuuk. Mountain in the background and houses are at the right edge of the photo.
SAS reconnects with Greenland in new flight route
Airlines Aviation Route Development Travel
Under Secretary for Home and Youth Affairs of the Hong Kong SAR Government Clarence Leung (fourth from left), Cathay Chief Customer and Commercial Officer Lavinia Lau (third from left), HKYAA Chairman Captain Patrick Lau (third from right), Chief Flight Standards of the Civil, Aviation Department Captain Lawrence Wong (second from left), and HKYAA Honorary Advisor Albert Wong (second from right) kicked off the launch event with paper plane flying activity
Cathay and HKYAA Launch New AeroQuiz and Cathay Inter-school Aviation Challenge Cup
Airlines Airshow & Events
Indian Prime Minister Narendra Modi at the Air India crash site
India denies UN assistance following the 787 crash
Aircraft Aviation Incidents & Accidents
Boeing 787's cockpit
UK government evaluating the Boeing-Spirit Deal
Airline Economics Airlines Aviation
//

Travel Radar is the leading digital hub for all things aviation and air-travel. Discover our latest aviation news, aviation data, insight and analysis.

Discover

  • About Us
  • Contact Us
  • Careers
  • Press & PR
  • Privacy & Legal

Our Content

  • News
  • Data
  • Images
  • Jobs
  • Subscribe

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Click here to Signup!

© Travel Radar Media Ltd. 2015-2025 | ISSN #2635-0696 | Trademark #UK00003579704
wpDiscuz
adbanner
AdBlock Detected
Ads help us bring you high-quality, independent journalism for free. Support us by whitelisting us from your ad blocker.
Okay, I'll Whitelist
Welcome to the TR Community!

Sign in to your account

Register Lost your password?