THAI to borrow Bt60 bn in 2009

 Most of the loans would be sought overseas due to lower interest cost. Within July, it would raise Bt20 billion.

 THAI needs to pay US$600 million for 4 Airbus A330-300 in the latter half of this year, following the delivery of two earlier this year. According to Wallop, the European Credit Guarantee Department would be approached to guarantee the loan for the aircraft purchase. He added that THAI should recover from financial problems next year when the delivery of two more aircraft is scheduled.

 Wallop said that during 2009-2011, the company sets to grow revenue by 3-8 per cent per annum. The cabin factor will be maintained at 76 per cent on average. The airline also targets net profit of Bt10 billion in 2010, through tight cost controls.

 The airline expected to return to profits this year, after the losses of over Bt20 billion last year.