Thai Air Seeks New Loans to Fund Operations After Court Approval

Thai Airways International Pcl is seeking new loans to help fund operations after the court approved its plan to restructure at least 170 billion baht ($5.5 billion) of debt.

The carrier has been in talks with some banks for loans of as much as 25 billion baht as part of the debt-rehabilitation program, Chief Financial Officer Chai Eamsiri told a video conference with reporters on Wednesday. The Central Bankruptcy Court today endorsed the proposal, which is backed by most creditors, the airline said.

“We would like to secure new loans as soon as possible because our operating revenue can’t cover ...