Thai Airways crash lands into bankruptcy court
Thai Airways International (THAI) is headed for bankruptcy court to pave the way for a much-needed rehabilitation for the octogenarian, near moribund national carrier, which in its glory days operated under the smug “Smooth as Silk” logo.
Thai Prime Minister Prayut Chan-ocha’s Cabinet approved the plan on Tuesday (May 19) after weeks of speculation his government might offer a state bailout of the coronavirus grounded airline.
“We will let THAI go under Bankruptcy Court protection and the court will oversee a rehabilitation plan and will set up a new management team to carry out the rehabilitation,” Prayut told media.
PETER JANSSEN
