Thai Airways secures loan

Thai Airways secures loan

BANGKOK (AFP): Thai Airways International has agreed a financing deal with Britain's Barclays Bank for five new Boeing jets, reports said Saturday.

The national airline has signed a 537 million dollar export- credit arrangement, the largest of its kind ever undertaken by a Thai firm, to help it buy one Boeing 747-300 and four 777-300s, the Nation daily reported.

The aircraft were ordered last year while the country was still in the midst of an economic downturn.

Barclays' willingness to provide financing is a sign that Thailand's economy is recovering and international financial markets are embracing the country once again, Thai Airways officials in London said.

The US Export and Import Bank and Britain's Export Credit Guarantee Department have guaranteed the agreement.