Thailand examines airline finances due to safety concerns

Slideshow ( 2 images )

BANGKOK (Reuters) - Thailand’s civil aviation authority ordered all Thai-registered airlines on Tuesday to submit reports on their financial positions by March 31 to avoid the risk of having their operating licences revoked.

The move is part of the military government’s attempt to improve the country’s aviation standards after the U.S. Federal Aviation Administration downgraded Thailand’s safety ratings in December.

The Civil Aviation Authority of Thailand (CAAT) examined the financial status of Thai airlines late last year and found four small airlines had debt levels that could affect safety standards, Chula Sukmanop, the head of CAAT told reporters.

Reporting by Manunphattr Dhanananphorn; Writing by Khettiya Jittapong; Editing by Mark Potter