In a document from the airline outlining its strategy, Thai Airways International Pcl intends to obtain an emergency loan of 58.1 trillion baht (RM7.7 bil) to maintain liquidity and to view it in a drop in demand due to the coronavirus.

The proposed bridge loan, guaranteed by the Ministry of Finance, was approved on Wednesday and will be put to Cabinet for final approval by a committee chaired by Prime Minister Prayuth Chan-Ocha, as early as next week.

Before the coronavirus outbreak, Thai Airways was already facing financial problems, with losses since 2017.

In March the national carrier suspended flights as travel demand dropped and governments around the world imposed movement limits on the spread of the latest coronavirus. In less than two years, its president then resigned.

Thai Airways will slowly obtain emergency financing based on operating plans, which will also mark its 60th anniversary this year.

This plan is also intended to reduce the number of aircraft by 103 to 84 by 2024 and the aircraft types to six by seven.