Thai AirAsia X is planning to have a rehabilitation plan in place by next month and will start refunding and compensating passengers later this year, reports Bangkok post.
Tassapon Bijleveld, CEO, Asia Aviation confirmed that negotiations with creditors are currently underway and that should be complete by next month. Thai Air Asia is a 51-49 joint venture between Asia Aviation and AirAsia Group.
Thai AirAsia entered bankruptcy protection in May 2022 to better manage its debts incurred during the pandemic. Thai AirAsia X suspended operations once in 2020 and then again in 2021, with many passengers still waiting ticket refunds. The CEO further revealed that almost 50% of the refund money is already been processed while the remaining will be paid off in the coming months.
The airline currently operates scheduled flights to eight destinations in five countries. Thai AirAsia X's current flight capacity is approximately 50% of its pre-pandemic levels, with routes to Tokyo Narita. Osaka Kansai, and Seoul Incheon giving good results.
The airline also flies to Melbourne Tullamarine, Sapporo Chitose, Shanghai Pudong, and Sydney Kingsford Smith from its hub at Bangkok Suvarnabhumi International Airport.