Thai Airways to enter restructuring, ending status as state enterprise

Thai Airways announced (19-May-2020) Thailand's Cabinet approved a reform plan to be implemented through a business restructuring under the the Central Bankruptcy Court of Thailand and the Bankruptcy Act. Details include:

• The carrier will continue to operate services and run its business as usual during the reorganisation;
• It will not be dissolved, go into liquidation or be declared bankrupt;
• The law provides equitable protection to all relevant stakeholders;
• The business will be conducted in parallel with the reform plan to increase operational efficiency and improve product and service quality;
• Thai will resume full operations once the COVID-19 situation subsides.

Thailand's Transport Minister Saksayam Chidchob stated: "The Cabinet also agreed the government will reduce its holding in Thai Airways to under 50%, ending the airline's status as a state enterprise" (Reuters, 19-May-2020). [more - original PR]