The Cabinet had on March 26 approved loans totalling Bt16 billion to seven airlines who had suffered due to Covid-19. The eighth airline, NokScoot, later decided to also apply for the loan, prompting the group to send a fresh letter to the Ministry of Finance, increasing the sought loan amount to Bt24.15 billion.
The eight airlines and the loans they seek are:
- ▪︎ Bangkok Airways, Bt3 billion
- ▪︎ Thai AirAsia, Bt4.5 billion
- ▪︎ Thai AirAsia X, Bt3 billion
- ▪︎ Thai Lion Air, Bt3.75 billion
- ▪︎ Thai Vietjet Air, Bt900 million
- ▪︎ Thai Smile, Bt1.5 billion
- ▪︎ Nok Air, Bt4 billion
- ▪︎ NokScoot, Bt3.5 billion
The airlines have asked for an interest rate of 2 per cent for five years, with the first payment of principlal and interest scheduled for January 2021.
To keep their businesses afloat and retain the services of over 30,000 employees, the airlines will need the government to disburse 25 per cent of the total loan amount within April.