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CAAT Suspends In-Debt Asian Air
9th Feb 2016
Thai-owned, small full-service carrier Asian Air's operations have been suspended until further notice by the Civil Aviation Authority of Thailand (CAAT).
A week ago, the CAAT also barred Asian Air's plane from leaving Thailand.
The ban took effect this weekend on Sunday and, as the airline said, it is looking for a way to 'resume its operations as soon as possible'.
After getting an order from the Central Bankruptcy Court on 27th January, the CAAT grounded an Asian Air plane at the U-Tapao Airport in the Rayong province and barred it from flying to the island of Palau in the western Pacific Ocean.
Chula Sukmanop, Acting Director of CAAT explained that the carrier had unpaid debts and was being sued for bankruptcy by its now former maintenance service provider, Cargo Aircraft Management.
Mr. Chula also said that, in normal circumstances, the CAAT does not have immediate access to info regarding a carrier's debt. However, he explained, should the Asian Air be found that it is not in a financial position to operate and run business, it will be stripped of its operating license by the CAAT.
According to the co-owner of Asian Air, David Srichai-udom, the company's debt used to be 90 million baht, but they managed to get it down to as much as 10 million baht. He also said that he fully expects the legal battle to be over within the next four to six months and that the Civil Aviation Authority of Thailand would by then allow his company to resume all operations and flights.
In April, 2015, an Asian Air plane with 233 tourists onboard was rejected from flying to Sapporo by the Japan Civil Aviation Bureau. The plane was supposed to depart from Don Mueang Airport.
Asian Air was founded in 2011 with a current paid-up capital of half a billion baht. Only two years in operation, the airline reported a net loss of 8.3 million baht and the year after the debt soared to 150.4 million baht, according to financial statements filed with the Department of Business Development.
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