Today (May 19, 2020), the Thai Cabinet approved the reform plan for THAI which will be implemented through the business reorganization chapter under the auspices of the Central Bankruptcy Court of Thailand and the Bankruptcy Act.
In the meantime, THAI is able to operate flights and run its business as usual. Although THAI’ s reform plan will be implemented and exercised through the business reorganization chapter under the bankruptcy law, THAI will not be dissolved or go into liquidation or to be declared bankrupt.
The business will be conducted in parallel with the reform plan to increase operational efficiency and improve product and service quality.
THAI is committed to do everything possible to emerge from the crisis situation. This is an important step for THAI to change in order to become a stronger and more sustainable entity.