Thai secures 20b baht in new loans

Singapore
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Thai Airways International has secured 20 billion baht ($627.3 million) of new loans and credit lines from various banks to help fund its fleet expansion and other business plans.

The loans from Bangkok Bank, Thanachart Bank, TMB Bank and Tisco Bank are for varying periods of between five and eight years, says Thai.

An airline spokeswoman says the funds could be used for "business investment, fleet improvement and fleet expansion to meet the rising travel demand".

"The terms of the loan were very good and has given support to Thai's ongoing re-capitalisation plan," she adds.

Thai plans to launch a roadshow in September for a shares issue to raise 15 billion baht.