Nok Air Submits Rehab Plan to Bankruptcy Court

 

 

BANGKOK, July 31 (TNA) – Budget carrier Nok Air on Thursday submitted a business rehabilitation plan to the Bankruptcy Court for debt restructuring, hoping to its businesses to revive before the pandemic ends.

 

Nok Air chairman Prasert Bunsumpun said the company’s board approved the submission of the recovery plan and the Bankruptcy Court accepted its request and set the first hearing for October 27.

 

The company submitted its petition to the court as it viewed that the business rehabilitation plan is the best way to solve a temporary lack of liquidity and to allow the business operation to continue as normal.

 

The current trouble is not caused by business-related fundamental factors but the airline has been hard hit by the coronavirus pandemic.

 

Full story: https://tna.mcot.net/english-news-484939

 

-- © Copyright TNA 2020-08-01

 

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Nok Air was struggling before the pandemic. 
 

It will be hard for it to survive.

A lot of airlines worldwide are going to disappear over the next couple of years.

Thailand is going to be no exception as the leaders in LCC's are going to be going head-to-head when the skies open up and fight for fewer passengers.

I'm sure Thai Airways will be fine.  ????