{"id":89243,"date":"2020-08-25T22:55:05","date_gmt":"2020-08-25T14:55:05","guid":{"rendered":"http:\/\/www.namnewsnetwork.org\/?p=89243"},"modified":"2020-08-25T22:55:06","modified_gmt":"2020-08-25T14:55:06","slug":"thai-court-sets-sept-14-for-ruling-on-thai-airways-restructuring-request","status":"publish","type":"post","link":"http:\/\/namnewsnetwork.org\/?p=89243","title":{"rendered":"Thai court sets Sept 14 for ruling on Thai Airways&#8217; restructuring request"},"content":{"rendered":"\n<p>By Linda Khoo Hui Li<br><\/p>\n\n\n\n<p>BANGKOK, Aug 25 (NNN-BERNAMA) &#8212; Thailand\u2019s bankruptcy court will rule on Sept\u00a014 whether to approve or reject Thai Airways International Public Company Limited (THAI)\u2019s request for restructuring.<\/p>\n\n\n\n<p>The Central Bankruptcy Court held two additional hearings&nbsp;on Aug 20 and today, Aug 25 after some creditors opposed the request.<\/p>\n\n\n\n<p>In a statement, THAI&nbsp;director and acting president, Chansin Treenuchagron said today\u2019s proceedings went smoothly with good prospects.<\/p>\n\n\n\n<p>THAI filed the business reorganisation petition on&nbsp;May 26, which was accepted for consideration by the court on May 27.&nbsp;<\/p>\n\n\n\n<p>THAI had been in trouble before the COVID-19 outbreak due to stiff competition from budget airlines, global economic slowdown and bloated costs.<\/p>\n\n\n\n<p>Due to the ongoing pandemic&nbsp;and the continuous immigration restrictions and governmental measures imposed by several countries, THAI was forced&nbsp;to extend&nbsp;the temporary suspension of its international operations until the end of October.<\/p>\n\n\n\n<p>Thai Airways reported a net loss of 12.04 billion baht (100 baht=RM13.64) in 2019. The airline recorded losses every year since 2012, except 2016. Its total debt stands at about 250 billion baht.<\/p>\n\n\n\n<p>Last month, THAI announced a drop&nbsp;in passengers, numbering only 3.5 million&nbsp;in the first five months of the&nbsp;year.&nbsp;<\/p>\n\n\n\n<p>&#8212; NNN-BERNAMA\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Linda Khoo Hui Li BANGKOK, Aug 25 (NNN-BERNAMA) &#8212; Thailand\u2019s bankruptcy court will rule on Sept\u00a014 whether to approve or reject Thai Airways International Public Company Limited (THAI)\u2019s request for restructuring. The Central Bankruptcy Court held two additional hearings&nbsp;on Aug 20 and today, Aug 25 after some creditors opposed the request. In a statement, [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/89243"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=89243"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/89243\/revisions"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=89243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=89243"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=89243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}