published : 17 May 2021 at 04:30
newspaper section: News
Last week, the creditors of Thai Airways International Plc (THAI) decided to postpone a vote on the airline’s debt restructuring plan to this coming Wednesday.
On that day, they will decide whether the ailing flag carrier, which has accumulated debts of as much as 400 billion baht, should remain in business.
If a majority of the creditors decide to vote in favour of the plan, the Central Bankruptcy Court will appoint administrators to oversee the airline’s rehabilitation and THAI will be able to resume its business. But if they decide to vote against the plan, the airline will be declared bankrupt and undergo business liquidation.
Thirty-six major creditors, most of which…
Read the full article at: https://www.bangkokpost.com/opinion/opinion/2116763/prudent-aid-for-thai
