web analytics
19.5 C
Munich
Friday, June 18, 2021

Thai Airways International (OTCMKTS: TAWNF) Q Stock Rising

Thai Airways International (OTCMKTS: TAWNF) is making an explosive move up the charts after creditors delayed a vote on whether to approve Thai Airways International Pcl’s debt restructuring plan by a week, according to the carrier’s legal adviser. Thai Airways needs more than 50% of creditors to accept its plan, which is part of measures to help it return to profitability as it navigates the devastation wreaked on the global travel industry by the pandemic.  

TAWNF is the flag carrier airline of Thailand and is backed by Thailand’s finance ministry. The stock was trading over $2 several short months ago and has a significant gap to fill from current levels. Q stocks are legendary on the OTCQB with a long history of making spectacular move up the charts in recent years once on the bulletin boards. The Company has previously proposed a three-year freeze on loan repayments in one of Thailand’s most high-profile restructurings. Thailand’s finance ministry is currently TAWNF largest shareholder and recently indicated its backing for the debt plan. 

Thai Airways International (OTCMKTS: TAWNF) is the flag carrier airline of Thailand. Formed in 1988, the airline has its corporate headquarters in Vibhavadi Rangsit Road, Chatuchak District, Bangkok, and primarily operates from Suvarnabhumi Airport. THAI is a founding member of the Star Alliance. The airline is the second-largest shareholder of the low-cost carrier Nok Air with a 15.94 per cent stake and it launched a regional carrier under the name Thai Smile in the middle of 2012 using new Airbus A320 aircraft. 

Thai operate from its main hub at Suvarnabhumi Airport and secondary hub at Phuket International Airport, the airline and its subsidiaries fly to over 101 destinations in 37 countries, using a fleet of 95 aircraft, that consist of wide-body aircraft from both Boeing and Airbus, while the subsidiary Thai Smile operates narrow body aircraft. As of 2013, services between Bangkok and Los Angeles were served via Incheon International Airport near Seoul. However, it ended its service to the US on 25 October 2015. Thai’s route network is dominated by flights to Europe, East Asia, and South/Southwest Asia, though the airline serves five cities in Oceania. Thai was the first Asia-Pacific airline to serve Heathrow Airport. Among Asia-Pacific carriers, the company has one of the largest passenger operations in Europe. As of 2020, the longest route Thai operates is the Suvarnabhumi Airport to Heathrow Airport (5,933m). As of the end of 2019, 1,438 of its 22,054 employees were pilots. 

To Find out the inside Scoop on Thai Airways Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

TAWNF

TAWNF

The Company has previously proposed a three-year freeze on loan repayments in one of the nation’s most high-profile restructurings. Total liabilities currently stand at around$11 billion. Thai Airways is seeking a deferment of bond repayments for six years and a waiver of unpaid interest on loans as part of the plan, involving about 170 billion baht ($5.44 billion) of debt. It’s also looking to raise over $2 billion in new capital, cut its workfoce in half and sell properties in order to return to profitability. 

A senior lawyer at Kudun & Partners Ltd., which is representing the creditors, said in March that their initial response to the proposed restructuring was favorable. Thailand’s finance ministry, the Bangkok-based airline’s largest shareholder, indicated its backing for the debt plan that same month. 

For More on Thai Airways  Subscribe Right Now!

Thai Airways International (OTCMKTS: TAWNF) is making an explosive move up the charts after creditors delayed a vote on whether to approve Thai Airways International Pcl’s debt restructuring plan by a week, according to the carrier’s legal adviser. Thai Airways needs more than 50% of creditors to accept its plan, which is part of measures to help it return to profitability as it navigates the devastation wreaked on the global travel industry by the pandemic. TAWNF is the flag carrier airline of Thailand and is backed by Thailand’s finance ministry. The stock was trading over $2 several short months ago and has a significant gap to fill from current levels. Q stocks are legendary on the OTCQB with a long history of making spectacular move up the charts in recent years once on the bulletin boards. The Company has previously proposed a three-year freeze on loan repayments in one of Thailand’s most high-profile restructurings. Thailand’s finance ministry is currently TAWNF largest shareholder and recently indicated its backing for the debt plan. We will be updating on Thai Airways when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Thai Airways.

Sign Up now for our 100% FREE Penny Stock Newsletter

Disclosure: we hold no position in Thai Airways either long or short and we have not been compensated for this article.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.