Bangkok (VNA) – The Central Bankruptcy Court of Thailand on September 14 approved a request for a debt restructuring plan of Thai Airways International Plc, the nation's flagship carrier, which has been hit hard by the COVID-19.
Thai Airways reduced its stake in May and went to the insolvency court to resolve its debt, which totalled 332.2 billion (10.6 billion USD) by the end of June, according to local media.
The carrier, which reported a loss of nearly 900 million USD in the first quarter of this year, is seeking a loan worth around 1.78 billion USD in the short term to operate and pay for its employees.
It is expected to submit the debt restructuring plan by the end of this year.
The global aviation sector has plunged into crisis by the pandemic as countries severely restricted travel, forcing airlines to ground vast numbers of planes and seek government help as they hemorrhaged cash./.
- Road map for Puerto Rico's exit from bankruptcy filed in U.S. court
- Release funds for interim finance, NCLT tells Jet Airways’ lenders
- Bankrupt construction company that built bridge that collapsed and killed six people at Florida International University has received ANOTHER contract extension with Miami International Airport
- The shops shutting this year as HMV enters administration joining Poundworld, Maplin and Toys R Us
- Toys "R" Us files for bankruptcy as holiday season approaches
- Bardot to close dozens of Australian stores within months
- US Senator Marco Rubio visits Venezuela border, warns Nicolas Maduro
- Australia’s sixth-largest wine company, McWilliam’s Wines, appoints voluntary administrators
Thai Airways receives court greenlight for debt restructuring have 255 words, post on en.vietnamplus.vn at September 14, 2020. This is cached page on Talk Vietnam. If you want remove this page, please contact us.