BANGKOK (Reuters) – The Thai government expects to conclude a capital injection plan for flagship carrier Thai Airways International Pcl next week, a government minister said on Thursday.

“On the capital needed to support liquidity, it will be clear next week,” Transport Minister Saksayam Chidchob told reporters after a meeting with other agencies on the airline’s rehabilitation plan.

He did not give details but in 2010, the government subscribed to newly issued shares to maintain a controlling stakes in the airline.

The company’s share price rose more than 14% after his comment.

A committee including the finance ministry, which holds a 51% stake in the airline, and the transport ministry was formed to oversee the carrier over the next three to six months, Saksayam said.

As a state-owned enterprise, the airline is overseen by multiple government agencies.

Southeast Asia’s second-largest economy stands to lose 1.3 trillion baht, nearly all of it in the tourism sector from the new coronavirus, which has infected than 2 million people globally and killed 136,667, according to a Reuters tally.

Thailand has a total of 2,672 cases and 46 fatalities.

REuters
Photo Rob Vogelaar