Thailand’s cabinet approved a plan to restructure troubled Thai Airways International Pcl’s finances through a bankruptcy court, the Southeast Asian country’s prime minister said on Tuesday.The plan for a court-led restructuring of the national carrier replaces a previous proposal of a government-funded rescue package that was heavily criticized in the country.The state-controlled airline’s troubles are the latest example of how the coronavirus pandemic is crippling the global airline industry. Colombia’s Avianca Holdings SA and Virgin Australia Holdings Ltd have filed for bankruptcy protection since the pandemic broke out.Airlines around the world have grounded the bulk of their capacity due to government directives and border restrictions.Thai Airways, though, had been in trouble even before the outbreak of the coronavirus due to stiff competition from budget airlines and bloated costs.It posted losses every year after 2012, except in 2016. In 2019, it reported losses of 12.04 billion baht ($377.3 million). Topics : “The government has reviewed all dimensions … we have decided to petition for restructuring and not let Thai Airways go bankrupt. The airline will continue to operate,” Prime Minister Prayuth Chan-ocha told reporters at a news briefing. “Thai Airways will be protected by the courts …. and a professional will be appointed to oversee the restructuring,” Prayuth said, adding the airline’s workers will continue to have jobs.Thai Airways said the plan will be implemented through the Central Bankruptcy Court and it would operate as usual as the restructuring took place.“Thai Airways will not be dissolved or go into liquidation or be declared bankrupt,” Thai Airways Acting President Chakkrit Parapuntakul said in a statement.Operations including passenger and cargo transportation will continue in parallel with the plan, he said.Thai Airways shares surged 11.7% on Tuesday, but are still down by about a third this year.
The following were detained at the Molo police station: Ariel Albuna, 32, of Barangay Anhawan, Janiuay, Iloilo and his helper Roy Sabido, 55, of Barangay San Roque, San Miguel, iloilo. ILOILO City- Two persons were arrested in Zone 1, Barangay North Baluarte, Molo district for selling liquor. The two were arrested at around 3:45 p.m. on April 30. Undercover police officers confiscated from them 30 boxes of whisky and a box of brandy. Treñas initially lifted the liquor ban on April 21 but re-imposed it the following day. According to Police Major Engelbert Banquillo, Molo police chief, his men and the Intelligence Section of the Iloilo City Police Office conducted the operation against the suspects after receiving information about their activities. He also cited “the many other important activities undertaken by our security personnel” and the “advice coming from various sectors.” There is a liquor ban in the city. The sale and consumption of liquor is prohibited while the city is under an enhanced community quarantine to curb the spread of SARS-CoV-2, the virus that causes the coronavirus disease 2019. The suspects were charged with violation of Article 151 of the Revised Penal Code in relation to Executive Order No. 66-A of Mayor Jerry Treñas, said Banquillo. The combined value of the recoveries was P70,000. “They were not selling per bottle but by boxes,” said Banquillo. “Various incidents due to intoxicated persons” promoted him to backtrack, according to Treñas. “There were several reported incidents and complaints (of) abuse in (the) consumption of alcohol, and violations of physical distancing measures, hence the need to re-impose the prohibition on the sale and consumption of liquor,” stressed Treñas. Covered by the ban are “any form of liquor or alcohol, beverages, or any alcoholic drink containing a specific percentage of alcohol by volume or weight which may be in the form of whisky, brandy, gin, rum, cordial, cocktail, wine, champagne, vermouth, basi, tuba, sake, beer, ale, stout, and the like.”/PN