Thai Airways International Public Company Limited announced that it would complete the repayment of aircraft loans for three aircraft namely A300-600, A310-200 and Boeing B737-400 prior to the due dates of the loan agreements. This is expected to help THAI save up to 115 million Baht on interest payments.
Mr. Kanok Abhiradee, THAI’s President, said that THAI’s Board of Directors has granted approval to complete a payment of the aircraft loan for Airbus A310-200 aircraft, prior to its due date. The payment will be completed on 25 March 2005 and help save interest expenses of 78 million Baht. The Ministry of Finance has already been informed of the action. As a result of the company’s strong cash flow position, THAI will use part of it for payment of the Airbus A310-200 aircraft.
The early repayment of aircraft loans for the A300-600 aircraft, which is due on 10 March 2003 and Boeing 737-400 aircraft on 18 June 2003, may be made subject to an approval of the Ministry of Finance to issue European Commercial Paper (ECP). This may then be extended to THAI, relieving its debt burden and helping the airline save approximately 37 million Baht in interest.
|
