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 airlines assets, its going to be a rough ride ahead for Thailands national airline.
Another step in the long road ahead for Thai Airways
On Monday, Bangkoks Central Bankruptcy Court allowed an application to proceed with a formal restructuring process…
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