Flag carrier Thai Airways has strongly refuted media reports the airline is in dire financial straits and is in danger of going bust.
It is insisting that comments attributed to its president Sumeth Damrongchaitham have been taken out of context and while the airline’s financial health is not good, it is not nearly as bad as reports suggest.
Sumeth addressed airline executives during a meeting this week, reportedly saying: “I want staff to be united to overcome the obstacles. Otherwise, the national airline must close down. There is still time for a solution, but there is not much time.
“There will be no other rewards for the staff, because the top prize is the survival of the company.”
Sumeth says his words have been misrepresented and he was only trying to impress upon colleagues how ‘cut throat’ the competition is with LCCs.
“With utmost strength and determination, Thai confirms its capability to perform exceptionally amidst tough airline competition. Thai remains very far from shutting down,” the airline said in a statement.