Cabinet approves plan for THAI bankruptcy court restructuring

Cabinet approves plan for THAI bankruptcy court restructuring

This photograph taken on Monday shows a Thai Airways plane model for sale at a shopping mall in Bangkok. (AFP)
This photograph taken on Monday shows a Thai Airways plane model for sale at a shopping mall in Bangkok. (AFP)

The cabinet approved a plan to bring Thai Airways International Plc to bankruptcy court for debt restructuring, the prime minister said on Tuesday.

"It was a difficult decision," Prime Minister Prayut Chan-o-cha told reporters at a news briefing.

The plan replaces a previous rescue package where the airline would seek a government guaranteed loan.

"The government has reviewed all dimensions ... we have decided to petition for restructuring and not let Thai Airways go bankrupt. The airline will continue to operate," Gen Prayut said.

Do you like the content of this article?
COMMENT (9)

DR Congo reports fresh Ebola outbreak

KINSHASA - DR Congo reported a fresh Ebola outbreak in its northwest on Monday, the latest health emergency for a country already fighting an epidemic of the deadly fever in the east as well as a surging number of coronavirus infections.

21:45

Japan skies lit up to brighten mood

Simultaneous fireworks displays coloured the night skies in Tokyo and other parts of Japan on Monday, with fireworks makers hoping the sight would cheer up the nation as it struggles with the coronavirus pandemic.

21:29

Gilead: Remdesivir helped moderate patients improve

Gilead Sciences Inc said on Monday its antiviral drug remdesivir showed improvement in patients with moderate Covid-19 in a late-stage study.

21:15