Thai AirAsia X under the AirAsia group, is looking for new buyers for a major restructuring to have the ability to resume international flights subsequent yr, after a two-year halt of its low-cost carriers.
According to Tassapon Bijleveld, executive chairman of SET-listed Asia Aviation (AAV), and a shareholder of Thai AirAsia X, the 11-aircraft fleet was lowered to seven earlier this yr, and considered one of them was converted into a cargo service to keep away from financial losses.
He added Thai AirAsia X wants more money to launch passenger flights, which are likely to resume next yr as Thai AirAsia obtained further fundings final week.
Since tourists have begun to inquire concerning the resumption of worldwide flights, prompting the airline to start ticket sales for the Bangkok-Incheon (South Korea) route in April 2022, Tassapon mentioned that borders will reopen by then hopefully.
“Border restrictions shouldn’t be considered as a method of preventing the spread of the Omicron variant because the national economic system, significantly the cash-strapped tourism sector, can’t sustain one other lockdown.”
He additionally stated that the government ought to be taught to reside with the virus after all by providing enough protection for native communities via using vaccinations and medicines, permitting the financial system to continue as usual, including that Thai AirAsia X is in talks with a few potential traders and can begin restructuring by next 12 months.
No strings attached accredited the restructuring proposal on November 26 at a gathering, permitting the airline to raise an additional 14 billion baht.
Tassapon will control 18% of the shares underneath the new structure, down from forty.52% now, while AirAsia Aviation, the funding arm of AirAsia Group Berhad, will hold 40.7% adopted by business banks at 5.3% and new particular person Thai traders at 5.2%.
Despite the truth that TAA is as a end result of of get its first round of recent cash by mid-December, cost-cutting measures should proceed until air journey recovers absolutely. But sadly, it would have to say goodbye to more than four hundred workers from its total workforce of 5,000 during layoffs final month. Some staff choose to take part within the company’s early retirement program..