Thai Airways restructuring plan approved by creditors

[Thaiger]

The restructuring plan to tackle Thai Airways International’s more than 300 billion baht debt, one of Thailand’s most high profile bankruptcy cases, was approved by the airline’s creditors, its legal advisor told Reuters reporters. The plan was approved by 90% of the creditors. It will be reviewed by the Central Bankruptcy Court on May 28. In a previous report, the head of Thailand’s Finance Ministry, the airline’s largest shareholder, said they support the plan. Last year, Thai Airways filed for bankruptcy protection and debt restructuring when the airline had a record loss of 141 billion baht. Several people from the airline were […]

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