Thai Airways International (THAI) on Friday submitted a new debt rehabilitation plan following a better-than-expected recovery from its financial crisis, said Piyasvasti Amranand, chairman of the THAI panel overseeing the airline's court-monitored debt plan.
Over the past two years, amid the pandemic, the aviation industry has been on the verge of collapse because of stringent border controls and uncertainty over travel rules, causing severe financial strain for many airlines.
A group formed to claim insurance pay-outs owed to them by Syn Mun Kong Insurance (SMK) is looking to stage a gathering on Monday after the company’s rehabilitation petition was accepted by the Central Bankruptcy Court on May 18.
Cash-strapped Thai Airways International earned over 1 million baht in under a minute on Tuesday by selling passenger seats stripped from its decommissioned aircraft.