Airports of Thailand (AOT) is prepared to temporarily take over the operation of ground and cargo handling, as well as MRO operations, at Bangkok Suvarnabhumi as a part of a new joint venture with Thai Airways International (TG, Bangkok Suvarnabhumi), AOT president Nitinai Sirismatthakarn told journalists.

The Nation English language newspaper said Nitinai suggested that the state-owned airport operator could enter into a JV and assume responsibility for the three units while Thai Airways goes through its Chapter 11-like restructuring. By doing so, AOT would ensure that the crucial services continue to be operational regardless of the flag carrier's situation.

Nitinai added that once Thai Airways successfully completes its restructuring, AOT could sell its stake in the JV back to the carrier.

Any decisions regarding the establishment of the JV would only be possible after August 17, when a court is due to meet and formally decide whether to allow Thai Airways to proceed with its restructuring.

Nitinai revealed that Thai Airways owes AOT THB3 billion baht (USD95.6 million) but said that the airport operator was not particularly concerned about the debt and that the protection of vital ground, cargo, and MRO services at the main Thai gateway was more important. Two-thirds of the debt relates to the provision of services at Bangkok Don Mueang.

Both Thai Airways and AOT are listed on the Stock Exchange of Thailand (SET) but are majority-owned by the state, which controls a 51.03% stake in the airline and a 70% stake in the airport operator. AOT operates both Bangkok airports, as well as Chiang Mai, Chiang Rai, Phuket, and Hat Yai.

Meanwhile, the Bangkok Post has reported that Thai Airways has formed an internal "survival team" to urgently prepare a business plan for the upcoming months. Initially, the business plan would only cover the period through October 31, 2020, to secure the airline's survival through the most adverse market conditions. This business plan will be submitted to the court as a part of its application for bankruptcy protection.