Thai Airways board approves new THB1.5bn loan

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Thai Airways' board has approved a plan to raise an additional 1.5 billion baht ($48.9 million) in loans as part of the carrier's financial restructuring plans.

The seven-year term loan was secured from ICBC Bank, says the Star Alliance member. It did not say what the funds would be used for.

Its board also approved the "improved" term and conditions of an existing 5 billion baht loan from Standard Chartered Bank, and a financial lease agreement with DVB Group Merchant Bank (Asia) for two Airbus A330-300 aircraft.