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Thai Airways rehabilitation may take up to 7 years - legal advisor

by Emelia Espie (2020-06-23)

BANGKOK, June 8 (Reuters) - The rehabilitation of flag carrier Thai Airways International Pcl may take up to seven years, the airline's legal advisor said on Monday.

After the bankruptcy court allows the rehabilitation, its planners may take five months to a year to draw up the plan, Kitipong Urapeepatanapong, told a news briefing.
The rehabilitation timeframe would be five years, extendable for up to two years.

After courts approve the plan, an administrator will be appointed. If you cherished this posting and you would like to acquire a lot more details with regards to no matter how difficult your situation or how aggressive your creditors. kindly take a look at our own web-page. Thai Airway's first hearing is scheduled for August 17.

"The Thai Airways rehabilitation plan should conclude within 7 years, which can include debt to equity conversions, selling assets or an equity injection," he said.

(Reporting by Chayut Setboonsarng; Editing by Martin Petty)