Thai Airways Faces Court Ruling on Landmark Debt Rescue Plan

Thai Airways International Pcl, the nation’s flagship carrier, faces one of its biggest challenges in its 60-year history, with a local court set to rule on its debt restructuring on Monday, Bloomberg News reported. The Central Bankruptcy Court will decide whether the airline can proceed with its plan to rehabilitate its debt. The company, which had total liabilities of 332.2 billion baht ($10.6 billion) at the end of June, is one of the nation’s most high-profile debt cases. The coronavirus pandemic has devastated the global travel industry, forcing airlines to suspend flights, lay off employees and seek financial help from governments and investors. Companies such as Virgin Australia Holdings Ltd. and Avianca Holdings SA, Latin America’s second-largest airline, have gone into administration or sought bankruptcy protection. Read more