Thai AirAsia issues 6% p.a. debentures with 1-year maturity Airline to continue with international expansion, expecting best performance in 3 years in latter half of 2022

BANGKOK, 25 August, 2022 -  Thai AirAsia (TAA), the low-fare carrier with the largest market share in Thailand, is set to issue a second round of debentures for 2022 worth not exceeding 750 million THB to Institutional Investors and High Net Worth Individuals (69-II&HNW) to support its expansion plan in line with the robustly recovering tourism industry in Thailand as well as continue the expansion of its international route network. The debentures will have one-year maturity with a coupon of 6.00% p.a., and fully guaranteed by Asia Aviation Plc. (AAV).

The debentures are expected to open for subscription between 27-29 September 2022 and will be issued on 30 September 2022. Minimum subscription is 100,000 THB with multiples of 100,000 THB and can be made through the following brokers:

  • Bluebell Securities Co., Ltd. (Tel. 02-249-2999, Line: @BlueBellFin), www.bluebellgroup.co.th

  • Globlex Securities Co. Ltd. (Tel. 02-687-7159)

Mr. Santisuk Klongchaiya, Chief Executive Officer of Thai AirAsia said: “This fundraising exercised by Thai AirAsia is aimed at supporting our expansion plan and enhancing our competitiveness in the market. The move follows significant recovery in Thailand’s domestic tourism market and further international expansion in the latter half of 2022. Thai AirAsia is planning to launch its first ever routes to Japan, Nepal and Bangladesh in the next few months, in addition to its popular services to India, Malaysia and Singapore.”

“We expect to operate a fleet of 43 aircraft out of our total 53 aircraft by the end of the year, and this will bring our capacity to more than 75% of our pre-COVID levels. Correspondingly, we expect to see potentially the rest of 2022 being our best half-yearly performance in three years.,” Mr Santisuk said.

For the first half of 2022, Thai AirAsia’s operational results saw revenue growing 90% year-on-year due to increased resumption of service and ancillary services. The airline transported 3.14 million passengers during the period, up 84% from the corresponding period in 2021. For the entire year of 2022, the carrier is targeting 10 million passengers served, over three times the number served last year. The company will continue to reinforce its strong brand, constant development and world-class standards with on-time performance priority as well as stringent health and safety measures for every flight.