Thai Airways International (TAWNF) Stock Continues To Move Up: But Why?

Over the course of the past week, the Thai Airways International (OTCMKTS:TAWNF) stock has made significant gains and jumped by as much as 350%. The rally continued yesterday as the stock soared by 54% and hit a high of $.43 a share at one point.

Thai Airways International (TAWNF) Stock Continues To Move Up: But Why?

The company is currently in the process of restructuring its debt and a final vote with regards to the process going forward is going to take place this week. The vote had been postponed last week.

Related:  Could Vroom's Stock (NASDAQ: VRM) Surpass $100?

However, according to a source that is aware of the developments regarding Thai Airways’ debt rehabilitation plan, the Thai government is not going to offer a bailout. The government has not made any such offer and as a matter of fact, it is not obliged to do so either. Rumors of such a bailout had started after people belonging to the Thai Finance ministry had attended a virtual meeting regarding the company’s debt rehab plan.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.