Thai Airways International plans to raise up to Bt44 billion ($1.27 billion) through its offering of 9.82 billion shares at Bt4.48 per share, as it looks to exit its rehabilitation plan and resume trading by the second quarter of 2025 The carrier says the period for subscribing to the newly issued ordinary shares is from 6-12 December, with a subscription ratio of 1 existing share to 4.5 new shares, according to a 26 November Thai stock exchange filing. In a separate press release, Piyasvasti Amranand, chairman of its Business Rehabilitation Plan Executive Committee, says unsubscribed shares will be offered through a private placement at the same price. The carrier has allocated about 21 billion new shares to creditors through a mandatory debt-to-equity swap and voluntary conversion, representing a total debt of Bt53.5 billion. The shares were converted at Bt2.55 per share. The debt-to-equity swap "will result in the shareholders’ equity in Thai Airways’ financial statements becoming positive by the end of this year, achieving one of the conditions for terminating the business rehabilitation," states Amranand. As of 30 September, the carrier’s shareholders' equity stood at negative Bt27.8 billion. The capital restructuring is expected to be completed by the end of this year, after which Thai will apply to cancel its rehabilitation plan with the Central Bankruptcy Court.

Australia's competition watchdog has granted interim authorisation to Virgin Australia and Qatar Airways that allows them to start marketing new weekly flights between Australia and Doha under a wet lease arrangement that will start in June 2025. "We consider that granting interim authorisation now will allow Qatar Airways and Virgin Australia the lead time to undertake the necessary planning discussions, marketing, selling and system alignment in preparation for Virgin Australia to commence flying the new services by June 2025," ACCC deputy chair Mick Keogh says. The proposed Virgin flights from Sydney, Melbourne and Brisbane to Doha would start in June, and Perth from November, subject to other approvals. Qatar will operate the flights under a wet lease arrangement with Virgin, effectively allowing it to circumvent restrictions under the Qatar-Australia bilateral air services agreement. Data shows that the Qatari carrier operates 42 return flights per week from Adelaide, Brisbane, Melbourne, Perth and Sydney to Doha. As part of the interim authorization, the two airlines have agreed to a court-enforceable undertaking that would allow passengers to receive refunds or alternative flights if final regulatory clearance is denied. The arrangement is part of a wider tie-up between the two airlines announced in October, with Qatar poised to take a 25% stake in Virgin, which will be subject to approval from Australia's Foreign Investment Review Board. Despite granting interim authorisation, the ACCC reiterated that it is continuing to assess submissions for the five-year authorisation the airlines have sought. A draft determination is set to be released in February. “We are carefully considering the concerns that interested parties have raised, particularly around the wet lease arrangements and the impact of the proposed exclusivity arrangements between Virgin Australia and Qatar Airways,” says Keogh. That exclusivity arrangement would see Qatar become Virgin's exclusive partner in the Middle East or Turkiye, and Virgin its sole partner in Australia. Virgin has already flagged to customers that its codeshare and loyalty partnership with Etihad Airways will end in June, however it will continue its partnership with Singapore Airlines.

Virgin Atlantic intends to refurbish Boeing 787s in its fleet but has yet to devise a new cabin configuration for the long-haul jets, its chief executive has disclosed. Speaking at the Airlines 2024 summit in London on 25 November, Shai Weiss said that once the UK carrier has received its remaining on-order Airbus A330neos, under a delivery schedule by 2028, "the big decision will be then what do we do with the 787 [fleet]?" Sources indicate that Virgin has 17 787-9s, 12 A350-1000s, seven A330-900s, and eight A330-300s. In July, the airline said it would receive a total of 19 A330neos and reduce its 787 fleet to 14 jets. Virgin has yet to decide whether the 787's refurbishment will bring the aircraft in line with the carrier's A350s or A330neos, Weiss says. Its A330neos are fitted with 32 Thomson Aero Seating Vantage XL business, 46 Collins Aerospace MiQ premium economy, and 184 Recaro CL3710 coach seats. The A350-1000 fleet features two layouts – one with 44 Safran-made Cirrus business seats, 56 MiQ premium economy, and 235 CL3710 coach seats on seven aircraft, and the other with 16 business, 56 premium economy, and 325 coach seats on five aircraft. Virgin's 787-9s have 31 Contour Premium business, 35 Reynard Aviation Reverb premium-economy, and 192 Recaro CL3620 coach seats. The airline opted to install on its A350s and A330neos a social space, dubbed the Loft, for customers travelling in business, rather than a bar that is available on its 787s and remaining A330ceos.