Nok Air handed in its business rehabilitation plan after extending the deadline twice. The airline’s creditors will meet to discuss the plan and decide whether to approve the plan. It would then need to be approved by Thailand’s Central Bankruptcy Court.
Nok Air is the second national carrier to file a rehabilitation petition with the Central Bankruptcy Court over the past year as airlines struggled due to international travel restrictions. In September, Nok Air reported that revenue was down by 47.7% year-on-year and reported a net loss of 3.9 billion.
Thai Airways, which is tackling a debt of more than 300 billion baht, recently had its restructuring plan approved by creditors and will have the plan reviewed by the court later this month.
Story about Thais Airways creditor plan HERE.
SOURCE: Bangkok Post
Join the conversation and have your say on Thailand news published on The Thaiger.
Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.
Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.
Another one bites the dust.
An’another one gone, another one gone.
Another one bites the dust..hey hey!
The thousands of highly paid foreign expats aren’t flying…aren’t coming to Phuket to spend. We used to spend B 50, 000 at a top resort over a weekend. But government plans like golf courses and massage guest off private jets and ” international tourist gaffes bring in nobody. Great plan. Ban the people able to spend that are already here.No wonder the airlines are broke. Thai can’t afford to fly so they drive or take the bus.
Yet more losses for tg,can’t see why things will be any better at thai smile.
Designed to take on the low cost operators at their own game,fail spectacularly then bailed out with tax payers money.why even try to make money?