Thailands Central Bankruptcy Court has granted low-cost carrier Nok Air a one-month extension to file its rehabilitation plan.
In a 15 March stock exchange disclosure, Nok chief Wutthiphum Jurangkool says the court allowed the carrier up to 15 April to submit its business restructuring plans.
The troubled carrier had asked for a deadline extension, citing several important aspects of the proposal, which it says requires the all-aspect analysis, consideration and formulation of the debt structure, capital structure, and organisational structure.
This is in addition to legal issues and contractual obligations with employees, business partners, and debtors; as well as in conjunction with financial estimates, capacity for debt repayment…
Read the full article at: https://www.flightglobal.com/airlines/troubled-nok-given-extension-to-submit-rehabilitation-plan/142910.article