Thai gov't OKs restructuring Thai Airways through bankruptcy court
BANGKOK, Kyodo - The Thai government on Tuesday approved a plan for national carrier Thai Airways International PLC to seek rehabilitation through a bankruptcy court, after the loss-making airline faced a sharp fall in air travel due to the coronavirus pandemic.
The Cabinet approval of Thai Airways' plan to file a rehabilitation plan with the Central Bankruptcy Court comes after the government decided against extending a rescue loan to the state-owned airline amid internal disagreements over its adequacy.
As the new coronavirus spreads around the globe, the flag carrier has suspended its international routes since early April and is poised to continue doing so until the end of June. (Kyodo)