31-Jul-2020 8:56 AM

Nok Air to lodge rehabilitation application with Thailand Central Bankruptcy Court

Nok Air's board approved (30-Jul-2020) the company to lodge a rehabilitation application with Thailand's Central Bankruptcy Court. The company stated the rehabilitation request is the most "suitable course of action" given its financial circumstances due to the operating environment and in order to sustain undisrupted operations. Details include:

  • The company has no intention to terminate or liquidate its business but resolves to continue its business and return to profitability;
  • The rehabilitation process will facilitate effective turnaround of business for all the company's stakeholders through the legal framework. It will also allow the company to continue its passenger, air cargo and air courier operations without interruption throughout the rehabilitation process;
  • The company nominated the following rehabilitation planners:
    • Grant Thornton Specialist Advisory Services;
    • Prinya Waiwatana;
    • Tai Chong;
    • Kasemsant Weerakun;
    • Wutthiphum Jurangkool;
    • Chavalit Uttasart. [more - original PR]

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