Thailand’s Central Bankruptcy Court approved Thai Airways International’s (Thai Airways) application for reorganization on the 14th。Thai Airways will submit a restructuring plan to the court in the fourth quarter of this year to start the restructuring process。

After the verdict was announced that day，THAI Airways issued a statement saying that it will submit a restructuring plan to the court in the fourth quarter of this year，And hold a creditors meeting in early 2021 188bet sports betting app download to discuss the plan。After the court issues an order agreeing to the plan and appointing a responsible person，Thai Airways will officially start the restructuring process。

Due to poor management，Thai Airways has suffered losses in recent years。According to Thai media reports，THAI Airways’ net loss in 2017 exceeded 2.1 billion baht (approximately US$67.11 million)，Loss in 2018 and 2019 expanded to 11.6 billion baht (approximately 3 respectively.USD 7.1 billion) and 12 billion baht (approximately 3.USD 8.4 billion)。The global spread of the COVID-19 epidemic this year has severely affected the aviation and tourism industries，Accelerating the deterioration of the already overwhelmed financial situation of Thai Airways。Thailand Airlines filed a restructuring application with the court at the end of May。

188bet online sports betting Source of this article：Xinhuanet, author：Ren Qian, original title:《Thailand Central Bankruptcy Court approves Thai Airways reorganization》.