Methods sought to ease airlines' liquidity crunch

Finance Minister Arkhom Termpittayapaisith has instructed the Fiscal Policy Office and the Bank of Thailand to jointly seek ways to relax some of the criteria for state banks to lend to domestic airlines to improve their liquidity.

He said both offices should speed up their decisions to help the airlines improve their liquidity during the prolonged Covid-19 outbreak.

Mr Arkhom said some government rules might make it difficult for state banks to provide financial assistance to airlines.

For example, if airline operators have already secured loans from commercial banks, then state banks were later to provide loans to the same airlines, the state banks would have to hold talks with the commercial banks regarding the details of how the state banks should proceed, he said.

Easing these kinds of rules would make it easier for financial institutions to lend to airlines, said Mr Arkhom.

He believes once the country eases lockdown measures, people will travel more, generating revenue for airlines.

The minister expects the government to ease lockdown measures in the third and fourth quarters this year to revive economic activities, which will benefit airlines.

A ministry source who requested anonymity said the ministry assigned the Export-Import Bank of Thailand (Exim Bank) as the main state bank to provide liquidity to the airline industry.

Exim Bank set loan conditions for accessing funds that require airlines to maintain their current staffing levels in operational areas until the end of this year.

The bank has two lending options for airlines, with the first a provision of one of its own loans.

The second option is the utilisation of a loan the Social Security Fund has provided to any of Exim Bank’s borrowers, which the bank would make available to the airlines, said the source.

Internet Explorer Channel Network
News Related

OTHER NEWS

Magellanic Standalone September 2021 Net Sales at Rs 10.60 crore, up 117.15% Y-o-Y

Reported Standalone quarterly numbers for Magellanic Cloud are: Net Sales at Rs 10.60 crore in September 2021 up 117.15% from Rs. 4.88 crore in September 2020. Quarterly Net Profit at ... Read more »

Oriental Hotels Consolidated September 2021 Net Sales at Rs 52.34 crore, up 231.27% Y-o-Y

Reported Consolidated quarterly numbers for Oriental Hotels are: Net Sales at Rs 52.34 crore in September 2021 up 231.27% from Rs. 15.80 crore in September 2020. Quarterly Net Loss at ... Read more »

Rane Madras Standalone September 2021 Net Sales at Rs 412.27 crore, up 45% Y-o-Y

Reported Standalone quarterly numbers for Rane Madras are: Net Sales at Rs 412.27 crore in September 2021 up 45% from Rs. 284.32 crore in September 2020. Quarterly Net Profit at ... Read more »

Taj GVK Hotels Consolidated September 2021 Net Sales at Rs 55.95 crore, up 433.87% Y-o-Y

Reported Consolidated quarterly numbers for Taj GVK Hotels & Resorts are: Net Sales at Rs 55.95 crore in September 2021 up 433.87% from Rs. 10.48 crore in September 2020. Quarterly ... Read more »

Hathway Cable Consolidated September 2021 Net Sales at Rs 447.87 crore, up 3.86% Y-o-Y

Reported Consolidated quarterly numbers for Hathway Cable and Datacom are: Net Sales at Rs 447.87 crore in September 2021 up 3.86% from Rs. 431.24 crore in September 2020. Quarterly Net ... Read more »

Arihant Super Consolidated September 2021 Net Sales at Rs 87.80 crore, up 38.06% Y-o-Y

Reported Consolidated quarterly numbers for Arihant Superstructures are: Net Sales at Rs 87.80 crore in September 2021 up 38.06% from Rs. 63.60 crore in September 2020. Quarterly Net Profit at ... Read more »

JagsonpalPharma Standalone September 2021 Net Sales at Rs 59.49 crore, up 5.56% Y-o-Y

Reported Standalone quarterly numbers for Jagsonpal Pharmaceuticals are: Net Sales at Rs 59.49 crore in September 2021 up 5.56% from Rs. 56.35 crore in September 2020. Quarterly Net Profit at ... Read more »

Mastek Consolidated September 2021 Net Sales at Rs 533.93 crore, up 30.31% Y-o-Y

Reported Consolidated quarterly numbers for Mastek are: Net Sales at Rs 533.93 crore in September 2021 up 30.31% from Rs. 409.74 crore in September 2020. Quarterly Net Profit at Rs. ... Read more »

Cryptocurrency Prices Today: Bitcoin touches record high above Rs 50 lakh

Cryptocurrencies traded in the green early on October 21. The global crypto  market cap increased 3.64 percent over the last day to $2.62 trillion. The market volume over the last ... Read more »

Netflix staff join protests outside its headquarters over controversial stand-up show by Dave Chapelle

Chappelle has been accused of making anti-transgender comments in a special show which is on Netflix. Read more »

Hong Kong stocks hold near six-week high as Evergrande, Alibaba slip while traders eye policy easing signals amid China slowdown

Hong Kong stocks fluctuated near a six-week high as investors looked for policy easing signals from Beijing amid a slowdown in the economy and worsening liquidity crunch in its property ... Read more »

Donald Trump creates his own media group and social network - statement

The Trump Media and Technology Group will launch the TRUTH Social network soon Read more »

Asian Paints Q2 Preview | Volume growth may lift revenue, inflation to weigh on margins

Asian Paints, one of the largest paint companies in India, is expected to see more than 20 percent growth in sales volume for the quarter ended September 2021 due to ... Read more »

Monetisation avenues open up for Indian short video apps, ad revenues triple in 6 months

Representative Image Indian short video apps are seeing monetisation opportunities with ad revenues tripling in the last six months, and live commerce and virtual gifting picking up as time spent ... Read more »

Exclusive: Neobank Fi aims for $200-million valuation in new funding round

Fi, a new-age app-only banking startup founded by former Google Pay executives, is in talks to raise about $50 million, taking its valuation fourfold to $200 million, said two people ... Read more »

Daily Voice | Be prepared for corrections, despite positive factors, says Srinivas Rao Ravuri of PGIM India MF

At a time when a euphoria of sorts has gripped the equity market with the benchmark indices scaling record highs, one voice raises a note of caution. Meet Srinivas Rao Ravuri, CIO – ... Read more »

Over 2,500 workers hired, Tuas port storage space tapped as S'pore ports help to tackle global supply crisis

The not yet operational Tuas port has opened up 2,000 TEUs (20-foot equivalent units) in yard capacity. SINGAPORE – The not-yet-operational Tuas port is already being used to store containers, ... Read more »

Buzzing Stocks: Asian Paints, PNB Housing, Mindtree and other stocks in news today

Results on October 21: Asian Paints, JSW Steel, Biocon, 63 Moons Technologies, Agro Tech Foods, Borosil Renewables, Can Fin Homes, CG Power and Industrial Solutions, Container Corporation of India, ICICI ... Read more »

Hot Stocks | Here is why you should buy Indoco Remedies, Jindal Steel and Apollo Pipes for the short term

In the previous week, Nifty50 witnessed three gap-up openings in three consecutive trading sessions and formed a continuation gap on the daily chart. Benchmark index, on October 19, engulfed its ... Read more »

Evergrande crisis: developer Modern Land (China) cancels US$250 million bond repayment plan on liquidity issues

China’s property market has taken another turn for the worse as developer Modern Land (China) has cancelled its plan to repay a portion of a US$250 million junk bond and ... Read more »

Business Hub: Dan Huggins

Bank of New Zealand CEO Dan Huggins talks his return to NZ and taking on the role amid the Covid-19 pandemic. Video / NZ Herald Read more »

9,727 new Covid cases, 73 deaths

Immigration police conduct protocols at Don Mueang airport on Wednesday to prepare for the reopening of the country for fully-vaccinated tourists from low-risk countries on Nov 1. (Photo: Pattarapong Chatpattarasill) ... Read more »

Retail giants Lotte, Shinsegae make major changes to cope with shopping trends

Lotte has made its staff younger by hiring new workers and dismissing longtime employees.  South Korea's retail giants Lotte and Shinsegae are implementing measures to cope with the challenges brought ... Read more »

How stable is such a ‘stablecoin' actually?

It is a golden find, the stablecoin: a crypto currency with all the associated advantages of security, privacy and tradability. But then fully covered by ‘real’ money. So for every ... Read more »

Easing of social distancing measures raises hopes for liquor businesses

Soju sales soar by 15 to 20 percent between November and December as South Koreans prefer it over a beer in winter. South Korea’s brewery companies and liquor traders are ... Read more »

Tesla shifting to cheaper batteries tried in China as material prices soar

Tesla has been using LFP batteries in China supplied by Contemporary Amperex Technology (CATL). DETROIT (BLOOMBERG) – Tesla said it’s shifting to cheaper lithium-iron-phosphate (LFP) batteries globally, a move away ... Read more »

National Museum expands exhibitions

Deluxe Barwara Suite at Six Senses Fort Barwara. Six Senses Fort Barwara The Department of Fine Arts now invites visitors to more exhibition rooms at the National Museum Bangkok where ... Read more »

Paul Smith recalls the 1970s Wider legs prevail, while checks and paisleys re-emerge as patterns of choice

Last year Sir Paul Smith celebrated 50 illustrious years in the fashion industry. For the autumn/winter 2021 collection, the veteran designer revisits subcultures that have signposted his career, remixing icons ... Read more »

Prada finds fine line between utility and elegance

Miuccia Prada and Raf Simons joined forces for the spring/summer 2021 collection. Their first creative conversation examined how mediation between technology and humanity has brought people together during the Covid-19 ... Read more »

Buildings win prizes

Interested architects and architecture students are invited to enter the “BlueScope Design Award 2021” to vie for prizes worth 750,000 baht in total. photo courtesy of NS BlueScope (Thailand) Organised ... Read more »

Remembering the Dvaravatis Phra Pathom Chedi National Museum is once again welcoming guests interested in learning about the country's rich cultural heritage

The Phra Pathom Chedi National Museum recently reopened its doors to welcome visitors after undergoing a massive revamp. Once a thriving trading hub on the banks of Tha Chin River, ... Read more »

Enjoy life's rich tapestry

Loy Krathong Festival, Chiang Mai by Nilraya Bundasak. photo courtesy of La Lanta Fine Art La Lanta Fine Art is holding “Spring Culture”, which will delight viewers with vibrant scenes ... Read more »

A journey into the mind

Blackhole. Tang Contemporary Art Bangkok Internationally recognised Thai artist Kantapon “Gongkan” Metheekul never fails to amaze. In his latest event “Introspection” with Tang Contemporary Art Bangkok, he presents a fresh ... Read more »

E-sports partnership formed to boost Thai tournaments

Tourism and Sports Minister Phiphat Ratchakitprakarn (centre) and Sports Authority of Thailand (SAT) governor Kongsak Yodmanee (the first from left) at the memorandum of understanding (MoU) signing ceremony with Garena ... Read more »

Supalai to launch condo projects soon New supply worth 5.74 billion baht

Mr Tritecha (left) is confident that the condo market recovery will start in this quarter. SET-listed developer Supalai Plc will launch four new condo projects worth a combined 5.74 billion ... Read more »

FPT redevelopment efforts to create Silom Edge Former Silom Center building to become a new sandbox community in the capital's central business district

A digital rendition of Silom Edge on the corner of Rama IV Road and Silom Road. With an investment of 1.8 billion baht, Silom Edge aims to change Silom Road ... Read more »

TSTH eyes post-flood recovery

SET Listed Tata Steel Thailand Plc (TSTH), a unit of India's largest steel maker, expects steel consumption in Thailand will recover after the flood crisis which affected steel sales. Up ... Read more »

Xi Faces Resistance to Property Tax Planned to Combat Bubble After negative feedback from within the party, an initial proposal to test a property tax in some 30 cities has been significantly scaled down

High-rise apartment buildings in Taicang, Jiangsu province, are being built by China Evergrande Group. Bloomberg Chinese President Xi Jinping has made no secret of his desire to deflate property bubble. But ... Read more »

Qantas sees return to 100% of pre-pandemic domestic capacity by January

Qantas will resume international passenger flights from Sydney to London and Los Angeles on Nov 1, 2021. SYDNEY (REUTERS) – Qantas Airways expects to get back to flying 100 per ... Read more »

Thailand Post starts drone deliveries

A drone carries medicine and medical supplies to far away recipients under the ‘Delivers Wellness’ project, the country’s first medicine delivery service using drones to fly from hospitals to homes. ... Read more »