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Thai Air Says Court Extends Rescue Plan Submission to Feb. 4

Jan. 5, 2021, 6:42 AM

Extension of debt rehabilitation plan submission deadline by one month to allow Thai Airways to consider formulation of debt, capital and organization structures, company says in exchange filing Tuesday.

  • More time to finalize rescue plan also to allow airline to consider legal issues and contractual obligations with employees, business partners and debtors
  • Rehabilitation plan also requires consideration and detailed analysis to ensure approval of creditors
  • Initially, court set deadline for the company to submit the rehabilitation plan within Jan. 2

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