Business
Thai Airways Restructuring Approved By Court – Simple Flying
A bankruptcy court in Bangkok has given Thai Airways the green light to go ahead and restructure the…
A bankruptcy court in Bangkok has given Thai Airways the green light to go ahead and restructure the airline. Akin to the Chapter 11 process in the United States, insolvency experts will attempt to steer the embattled airline out of its financial strife. But with US$11 billion in debt and having defaulted on loans and bonds worth around one-third of the airline’s assets, it’s going to be a rough ride ahead for Thailand’s national airline.
A bankruptcy court has approved Thai Airways proceeding …
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