Thai court to decide on Thai Airways restructuring request in September

BANGKOK (Reuters) – Thailand’s bankruptcy court will hand down its decision regarding Thai Airways International Pcl’s (THAI.BK) request for restructuring on Sept. 14, the airline said on Tuesday.

The court held two additional hearings on Aug. 20 and Aug. 25 when minor creditors opposed the carrier’s restructuring request.

Thai Airways submitted its petition for bankruptcy protection in May and received a stay on its debt.

“On the whole today’s hearing went well and the prospects are good,” Thai Airways acting president, Chansin Treenuchagron, said in a statement.

In September, the court is expected to approve or reject the airline’s request and appoint a committee that will oversee the restructuring plan.

Thai Airway’s executives and legal advisers previously said they were confident that court would approve its request due to agreement among major creditors.


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