On March 2, Thai Airways will submit its business rehabilitation plan to the Central Bankruptcy Court. After that, in around May, the court will assemble Thai Airways’ creditors to vote on the plan. If a majority of creditors vote yes, the court will appoint rehabilitation plan administrators and Thai Airways will conduct its business according to the plan. If a majority of creditors vote no, Thai Airways will be declared bankrupt and will head towards liquidation.
Originally, Thai Airways intended to submit the plan on Jan 2 but that did not happen. The submission date was then rescheduled to Feb 3. That did not happen either. The submission date is now pushed to March 2 — one day before the deadline set by law. If Thai Airways fails to submit the rehabilitation plan by that date, it’s over.
Full story: Bangkok Post
Chartchai Parasuk, Freelance economist