Thai Airways borrows $550 million to upgrade fleet
Thai Airways International Pcl’s board approved a plan for the national carrier to borrow about $550 million to pay for new airplanes as tourists return to Thailand, President Piyasvasti Amranand said.
The airline will borrow 17.5 billion baht ($548 million) from four Thai banks, with 12 billion baht of that coming from Bangkok Bank Pcl, the nation’s largest lender. The move will help Thai Airways add capacity to handle more passengers as demand picks up following recent unrest, Piyasvasti said.
“Tourists came back quickly after the political situation stabilized,” he told reporters in Bangkok Friday.
“So we’re now revisiting our old problem of aircraft shortages.”
