Tags : Bankruptcy

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Thai Airways Rehabilitation Plan Approved

BANGKOK, June 15 (TNA) – The Central Bankruptcy Court approved a rehabilitation plan for Thai Airways International (THAI) and thus five plan administrators can start the implementation. The court laid down its ruling after receiving two objection letters from creditors, explanations from planners and the opinions of a receiver. Full story: tna.mcot.net TNARead More

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Creditors approve Thai Airways restructuring plan

Thai Airways International (THAI)’s restructuring plan was approved by creditors yesterday (Wednesday), holding 91.56% of the carrier’s combined debts. The airline’s creditors, who met via video conference, after the postponement of the meeting on May 12th, also approved the appointment of five administrators, former THAI President Piyasvasti Amranand, Acting THAI President Chansin Treenuchagron, Pornchai Thiravet […]Read More

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THAI airways plans to cut staff by 50% or staff

After two postponements, Thai Airways International submitted its rehabilitation plan to the Legal Execution Department officials today (Tuesday), under which the debt-ridden national flag carrier plans to slash staff expenses from about 30 billion baht annually to about 12 billion baht, or to reduce its staff by half, to under 15,000, in two years. Under […]Read More

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Time to bid farewell to Thai Airways?

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 […]Read More

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Thai Airways International puts 34 passenger aircraft up for sale

Bankrupt Thai Airways International has put 34 passenger aircraft from its fleet up for sale, hoping to find buyers by Nov 13. Aircraft listed on the sale notice posted on its website include 10 Boeing 747-400s manufactured between 1993-2003, six Boeing 777-200s built in 1996-1998, and six Boeing 777-300s manufactured from 1998-2000. Full story: Bangkok […]Read More

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Central Bankruptcy Court Orders Rehabilitation of Thai Airways

BANGKOK, Sept 14 (TNA) — The Central Bankruptcy Court ordered the rehabilitation of Thai Airways International (THAI) and the appointment of rehabilitation planners, acting THAI president Chansin Treenuchagron said. According to him, the planners consisted ACM Chaiyapruek Disayasarin, Chakkrit Parapuntakul, Pirapan Salirathavibhaga, Boontuck Wungcharoen, Piyasvasti Amranand, Mr Chansin and EY Corporate Advisory Services Co. Full […]Read More

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Nok Air Submits Rehab Plan to Bankruptcy Court

BANGKOK, July 31 (TNA) – Budget carrier Nok Air on Thursday submitted a business rehabilitation plan to the Bankruptcy Court for debt restructuring, hoping to its businesses to revive before the pandemic ends. Nok Air chairman Prasert Bunsumpun said the company’s board approved the submission of the recovery plan and the Bankruptcy Court accepted its […]Read More