Thai Airways International is preparing a major overhaul of its operations in a move that could see the troubled state-owned airline restructure debt, cut jobs and reduce operating costs.

The carrier, which lost Bt21bn ($582m) last year, said in January that it wanted to raise Bt15bn to refinance some of its short-term loans and a further Bt19bn for longer-term commitments, including an order book of six Airbus A330 aircraft that are due for delivery this year.