THAI Airways To File For Bankruptcy

Thailand plans to go to bankruptcy court to submit a rehabilitation plan for its national carrier, Thai Airways International, rather than go ahead with a previously planned rescue. “The State-Enterprise Planning Office agreed in principle for the rehabilitation of Thai Airways in court…the procedure will be submitted to Cabinet tomorrow,” government spokeswoman Narumon Pinyosinwat said. The procedure replaces a previous rescue plan, which involves the airline seeking a 58.1 billion baht (S$2.6 billion) loan guaranteed by the government. “It is similar to filing Chapter 11 in the United States,” she said, adding that details of the rehabilitation plan have not been discussed.

Thai Airways, like every other carrier in the world, has suffered because of the COVID-19pandemic and the virtual halt to air traffic.


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