Court okays THAI’s rehabilitation plans
The bankruptcy court on Monday (September 14) gave the go-ahead to Thai Airways International (THAI)’s rehabilitation plan and choice of planner to implement it.
As announced in the Royal Gazette earlier, THAI’s creditors have about a month to file for the repayment of debts either online or at the airline’s headquarters in Bangkok.
The creditors will then be presented with the rehabilitation plan for approval before it goes to court for a final okay. This procedure will take another two to three months.
THAI had previously informed its shareholders that the restructuring process will focus on five aspects, namely debt repayment, a review of its routes and fleet, improvement of management structure, review of financial strategy and methods to generate revenue, and making its organisational structure compact.
As of 11.30am on Monday, THAI stocks had risen 6.51 per cent to Bt3.60 per share.
