By Charlotte Seet
Thai Airways Approved for Restructuring Plan
Thai Airways International managed to get its creditors approval on May 19 for a proposed restructuring plan that would help the airline refinance its debt in an effort to stay afloat and remain financially viable long-term, Nikkei reported.
In order for the seal of approval to be given, the restructuring plan needed a nod from creditors who together hold over 50% of the companys debt. Of 38 creditors, 28 voted for the plan, though the 28 represented currently hold approximately 91.56% of Thai Airways total debt, meaning the plan passed with a significant margin.
Thai Airways International will continue to update on the progress of [its] busi…
Read the full article at: https://airlinegeeks.com/2021/05/20/thai-airways-approved-for-restructuring-plan/