News
Thai AirAsia plans restructuring with up to US$100.3 million from new investor
April 27th 2021
Asia Aviation Public Company Limited (AAPC), the parent company of Thai AirAsia, said in a regulatory filing to the Stock Exchange of Thailand (SET) today the board had approved a restructuring plan for the LCC. Read More » "The situation does not seem to be returning to the normal levels of the pre-COVID-19 outbreak, but rather the opposite," AAPC said. "Presently, there has been another COVID-19 outbreak which is more severe and serious than the previous outbreak." Under the restructuring plan, Thai AirAsia would receive up to 3.15 billion baht (US$100.3 million) from a new investor through either a convertible loan agreement or convertible bonds. The investor was expected to conclude due diligence by the middle of next month.
The restructuring plan also proposes listing Thai AirAsia on the SET in place of AAPC for the "optimal benefit" of the business operation. "The company said positioning the LCC as the listed company on the SET in its place will increase opportunities for Thai AirAsia to raise funds by itself rather than being dependent on the company for fundraising," AAPC said. An extraordinary general meeting of the company has been set for June 4, 2021.
