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Creditors approve Thai Airways restructuring plan
Thai Airways’ creditors have voted to approve the airline’s restructuring plan. It passed with 90% approving it. Five administrators have been appointed, and interestingly, acting CEO Chansin Treenuchagron and former CEO Piyasvasti Amranandthe are among them.
The airline posted a record loss of THB141 billion and has had financial difficulties since well before the start of the pandemic.
It hopes to raise about THB50 billion in new capital. The bankruptcy court will meet later in the week to consider the creditors’ vote for final approval.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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