The Central Bankruptcy Court today, June 15th, approved a rehabilitation plan for Thai Airways International (THAI) and formed a board of five plan administrators to immediately start the implementation.
The Court’s decision has ruled after receiving two objection letters from creditors as well as explanations from planners and the opinions of a receiver.
The rehabilitation plan from the meeting of creditors was initially endorsed on May 19th. It also included a nomination of plan administrators, namely Piyasvasti Amranand, Pornchai Teerawej, Siri Jirapongpan, Kraisorn Baramee-auychai, and Chansin Treenuchagron. They were authorized to manage the airline business and implement its rehabilitation plan.
THAI Acting President Chansin Treenuchagron stated that the business rehabilitation administrators are ready to proceed with the rehabilitation plan for the best for all THAI creditors and customers. The airline also hopes to provide full aviation services as soon as the Covid-19 epidemic situation has improved to become a strong national airline and generate profits in the long run.
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