Thai inks 8bn Baht loan deal with Siam Commercial Bank

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Thai Airways (THAI) has signed an agreement with Siam Commercial Bank (SCB) for a seven-year term loan of 8 billion Baht ($248 million), and an amendment of a 5 billion baht loan granted previously to the company.

The move is part of its fundraising plans designed to strengthen the company's business operations, the Star Alliance carrier adds.

"Thai has looked to the SCB for financial solutions because their proposed conditions have been proven effective, and because we have confidence in the bank's expertise," says Thai's president Piyasvasti Amranand.