Thai Air Seeks New Loans to Fund Operations After Court Approval
- Airline’s existing cash and revenue can cover costs this year
- Central Bankruptcy Court endorses carrier’s debt-rescue plan
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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.