The CEO of Asia Aviation, the majority shareholders of Thai AirAsia X (XJ, Bangkok Suvarnabhumi), says the low-cost carrier intends to have a rehabilitation plan in place by next month and will start refunding and compensating passengers later this year, according to The Bangkok Post.

Speaking to the outlet, CEO Tassapon Bijleveld said negotiations with creditors continue but should be complete by mid-April. Thai AirAsia entered into bankruptcy protection in May 2022, saying doing so would allow it to better manage debts incurred earlier in the pandemic. The airline is a 51/49 joint venture between Asia Aviation and the AirAsia Group.

Thai AirAsia X suspended operations in early 2020 and again in 2021, leaving many passengers out of pocket. Reportedly, some have been waiting for refunds for three years. Tassapon says 50% of refunds have been paid and the remainder will be processed within the next four to five months. The airline resumed flights around the same time it filed for bankruptcy protection and now flies to eight destinations in five countries. However, one of its six remaining A330-300s is out of service, resulting in a more recent spate of flight cancellations. Tassapon says those passengers will also receive their refunds along with a THB2,000 baht (USD58 dollars) flight voucher as compensation.

Before the pandemic, Thai AirAsia X was operating 12 widebodies. This is now pared back to six A330-300s (including the out-of-service aircraft). Two additional A330-900Ns have been removed from service and are in storage at Bangkok Don Mueang ahead of ferrying back to their lessors. Tassapon says Thai AirAsia X's current flight capacity is approximately 50% of its pre-pandemic levels, with routes to Tokyo Narita. Osaka Kansai, and Seoul Incheon the best performing. The airline also flies to Melbourne Tullamarine, Sapporo Chitose, Shanghai Pudong, and Sydney Kingsford Smith from its Bangkok Suvarnabhumi International Airport hub..

The Association of Asia-Pacific Airlines (AAPA) notes that intra-Asia passengers numbers hit 16.9 million in February 2023, up 645% on the comparable period in 2022. "Strong travel demand will continue to underpin recovery in passenger traffic, as pre-pandemic flight frequencies and city links are gradually restored in 2023," said AAPA Director General Subhas Menon.