BANGKOK: Creditors of Thai Airways International (THAI) on Thursday (Sept 1) approved a new rehabilitation plan in what the airline called a major step forward on its flight back to full recovery.
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.