Thai Airways International Pcl wins court approval for restructuring plan

On Tuesday, a legal adviser to Thai Airways International Pcl said, it has won court approval for a restructuring plan; the development comes when the airline is under bankruptcy protection and is seeking a turnaround of its fortunes.

The Central Bankruptcy Court in Bangkok gave approval, which allows the plan to move forward, said Somboon Sangrungjang.

Last month, creditors of the airline had approved a $7.87 billion (245 billion baht) restructuring plan of its debt, but a court hearing was postponed following the filing of two complaints.

($1 = 31.1300 baht)

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