Thai Airways International has secured a new credit line amounting to 3.6 billion baht ($114.3 million).
The five-year floating interest rate loan matures in 2017. According to its second quarter earnings, the transaction with an unnamed bank was scheduled to be signed on 20 July 2012.
The Thai carrier ended the second quarter of this year with 17.7 billion baht cash and cash equivalents, a 1.03 billion baht increase from 31 December 2011.
For the first six months of the year, net cash from operating activities totalled 12.2 billion baht, while net cash used in investing activities amounted to 6.48 billion baht.
Thai issued three tranches of debt in the form of debentures, totalling 4.5 billion baht, to refinance its existing debt. It also secured a 311 million baht long term loan.
Thai repaid 6.5 billion baht of long-term loans and debentures for the six-month period ended 30 June. Net cash used in financing activities totalled 4.66 billion baht.
Source: Commercial Aviation Online