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Thai flag carrier requests court approval for updated restructuring plan
July 4th 2022
Thai Airways International (THAI) has applied to the country's Central Bankruptcy Court for amendment of its business rehabilitation plan. Read More » Its major measures, published in a Stock Exchange of Thailand (SET) regulatory filing, are proposals for new loans or other credit facilities to boost the company's share capital and updated repayment terms for creditors. THAI expects to complete its proposed capital restructuring by 2024, forecasting the airline company will be in positive equity by then. “The administrator is confident the submission for a plan amendment will enhance the confidence THAI's creditors, shareholders, passengers and customers have in THAI's business reorganization,” the airline said. The Star Alliance member flew an average of 12,568 passengers a day from June 1 to June 27.
