Monday, March 01, 2021

THAI seeks second deadline extension for rehab plan

Jan 27. 2021
THAI’s acting president Chansin Treenuchagron
THAI’s acting president Chansin Treenuchagron
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By The Nation

Thai Airways International (THAI) will this week ask the bankruptcy court to extend its deadline for submission of its rehabilitation plan by another one month, THAI’s acting president Chansin Treenuchagron said on Tuesday.

This is the second time the debt-ridden carrier has asked for a deadline extension. Previously, the court granted THAI’s request to postpone deadline from January 2 to February 4. By law, the carrier can postpone its submission only twice.

According to a THAI source, the airline will ask the court to extend the deadline to March 3. The company needs more time to forge a rehab plan that creditors can be confident in, said the source.

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