Flag carrier Thai Airways International rehabilitation may take up to 7 years: Advisor
Deputy Prime Minister Somkid Jatusripitak will not allow ailing flag-carrier Thai Airways International to collapse and dismissed rumours of impending lay-offs. (Bangkok Post photo). Sketched by the Pan Pacific Agency.
BANGKOK, Jun 8, 2020, Bangkok Post. The rehabilitation of flag carrier Thai Airways International Plc may take up to seven years, the airline’s legal advisor said on Monday, Bangkok Post reported.
After the bankruptcy court allows the rehabilitation, its planners may take five months to a year to draw up the plan, Kitipong Urapeepatanapong, told a news briefing. The rehabilitation timeframe would be five years, extendable for up to two years.
After courts approve the plan, an administrator will be appointed. Thai Airway’s first hearing is scheduled for Aug 17.
“The Thai Airways rehabilitation plan should conclude within 7 years, which can include debt to equity conversions, selling assets or an equity injection,” he said.
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