However, the experts note that the financial problems of Thai Airways have started long before the coronacrisis - losses have accompanied the company since 2013. The difficult situation was caused by two factors at once: the pressure from the competitors, working in the low price segment, as well as the changes in the national currency (baht) against the dollar and the euro. At the end of 2019, the experts evaluated the financial condition as critical. With the assets of $ 8.1 billion, the company has accumulated the obligations of $ 8.04 billion, thereby putting itself on the brink of bankruptcy.
In October last year, the president of Thai Airways issued an appeal in which he warned of a difficult situation and a possible termination of the activities. The press service subsequently tried to disavow the words of Sumet Damrongchatham, pointing to the misinterpretation of his speech by individual media.