THAI Notifies the Resolution of the Creditors’ Meeting on THAI Business Operation in Aviation Restructuring

17 May 2023

On 17 May 2023, Thai Airways International Public Company Limited (THAI) held a creditor committee’s meeting that reached a resolution in favor of the company’s restructuring of business operation in aviation as proposed by the Plan Administrators and THAI management.

Currently, THAI Smile Airways is one of THAI’s subsidiaries of which operational performance results were reported in the parent company’s consolidated financial statements according to applicable accounting standards. THAI will implement the restructuring of business operation in aviation in order to effectively improve fleet planning management, develop seamless route network for the benefits of customers and regain strength and competitiveness in the global market in response to the national strategy in steering Thailand to be the aviation hub in the region.  The restructuring will enhance the company’s capabilities in every dimension including operating cost management, resource and work process integration, brand unity and THAI and THAI Smile Airways market position to deliver the best travel experiences to the customers.

THAI will further proceed under applicable rules and regulations.  The restructuring is expected to be completed in the last quarter of 2023.  During the restructuring, THAI Smile Airways customers may purchase tickets and receive services as usual.

The stakeholders can rest assured that the Plan Administrators and THAI management considered the suitability, value, necessity and prospect of the business for the ultimate benefits of the company so that the overall performances will be optimized under the company’s business strategy and Rehabilitation process.  THAI will be able to generate sustainable profits and be the national carrier that Thai people are proud of.