Central Bankruptcy Court's Approval of THAI's Business Rehabilitation Plan

Today (15 June 2021), the Central Bankruptcy Court set a hearing to read out the Court's order with regard to the consideration of THAI's Business Rehabilitation Plan.  After receiving two objections against the Business Rehabilitation Plan, the Planners clarification and the Official Receiver's opinions regarding several issues, the Central Bankruptcy Court granted an order to approve THAI's Business Rehabilitation Plan as well as the amended Plan following the acceptance resolution at the creditors' meeting that took place on 19 May 2021. As a result of the order, the Plan Administrators nominations whose names were proposed according to the Business Rehabilitation Plan and the amended Plan, that is Mr. Piyasvasti Amranand, Mr. Pornchai Thiravet, Mr. Siri Jirapongphan, Mr. Kraisorn Barameeauychai, and Mr. Chansin Treenuchagron, have become the Plan Administrators, authorised by the Court to operate THAI's business and implement the Plan.

Thai Airways International would like to thank the Central Bankruptcy Court, the Official Receiver at the Legal Execution Department, creditors, customers, business partners, the Planners and all employees for their contribution that has led to the approval of the Business Rehabilitation Plan and also for the opportunity to continue to operate the business under the business rehabilitation proceedings. The Plan Administrators and all employees are committed to performing their duties for the successful implementation of the Plan and for the utmost benefit of all creditors. THAI hopes to instill confidence in all creditors and customers that the Company will resume normal operations and services in order to maintain itself as an organization that can compete in the market.

The business operations of THAI as the national flag carrier will be the pride of Thailand, the Thai people and all its customers as it supports in driving the economy and the tourism industry of Thailand.