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Thai AirAsia’s revised restructuring plan approved
October 20th 2021
The board of Thai AirAsia major shareholder, Asia Aviation Plc (AAV), has approved a revised restructuring plan that will be put to an extraordinary general meeting of shareholders on November 26. Read More » A document lodged with the Stock Exchange of Thailand said AAV and Thai AirAsia had attempted every possible avenue to increase the airline group’s liquidity and to implement a corporate and capital restructuring plan approved in April. However, the plan had proved to be complicated and time consuming to implement. “The company, therefore, has revised the corporate and capital restructuring plan as well as negotiated with new investors, shareholders, creditors of the company and Thai AirAsia on many occasions until a conclusion was finally reached,” it said. The revised plan includes a loan from a financial institution of about 3,900 million baht (US$116.487 million) that will be repaid by capital received from a shareholding restructure of AAV and Thai AirAsia involving the issue of new shares.
