Nok Air hands in its rehabilitation plan
Nok Airlines (Nok Air) has submitted its business rehabilitation plan to the relevant agency, the company’s chief executive officer Wutthiphum Jurangkool reported to the Stock Exchange of Thailand on Monday.
Nok Air had filed for rehabilitation of its debts and the Central Bankruptcy Court had accepted the case on July 30, 2020. The court then issued an order for the airline to proceed with rehabilitation and appointed planners as proposed by the company on November 4, 2020.
The Cabinet secretary then announced the appointment of rehab planners in the Royal Gazette on December 15, 2020, which required planners to submit a rehab plan to the agency concerned by March 15, 2021.
The planners, however, sought to extend the deadline twice, by a month each time, and consequently, the date for submission of a rehabilitation plan was postponed to May 15 this year.
Since May 15 was a Saturday, the planners submitted the rehab plan on Monday. The receiving agency will determine and set a date for a meeting of creditors who have voting rights to consider the rehab plan.
“The company will report on the progress of the rehabilitation plan and other related matters,” Wutthiphum said.