The Thai airline Thai Airways has announced that it will file for bankruptcy due to the Corona crisis. The state aid that is in the air is not being granted after all, but at the same time the entry ban for foreign passengers has been extended.
Bad news for the airline Thai Airways: Insolvency of the airline, which belongs to the Star Alliance, seems inevitable. About a month ago there was a glimmer of hope in the form of state aid, but it is now clear that the Thai state will not save the airline. At the same time, the government has extended the entry ban for foreign passengers until the end of June 2020.
Air traffic and thus the income of Thai Airways has come to a complete standstill due to the corona virus. The last resort seems to be insolvency on your own initiative.
Whether the entry ban will be extended beyond June 2020 is not yet foreseeable.
However, the current bankruptcy of the Thai Airways airline is not completely unexpected. Because the airline was not doing really well even before Corona. Thai Airways did not make a profit for three years in a row from 2017 to 2019, but posted a loss at the end of each year.
Airplane above the clouds
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