MCOT says Thai Airways will launch a low-cost carrier in April, 2012:
The new airline has not yet been given a name. “Thai Silk”, “Thai Wings” and “Thai Fly” were initially offered for selection by the public and THAI staff.
And:
Mr Ampon added that the board, meanwhile, approved the extension period of THAI and Singapore’s Tiger Airways contract for another three months. If by then Thai Tiger Aiways, earlier planned to be operated by both airlines, cannot yet be set up, Thai Airways International will cancel its joint venture with the Singaporean counterpart.
There are also stories from Reuters, the WSJ and the Bangkok Post.