The Central Bankruptcy Court's approval of THAI's Business Rehabilitation Plan

15 June 2021

Today (15 June 2021), the Central Bankruptcy Court set the hearing to read out the court's order with regard to the consideration of THAI's Business Rehabilitation Plan. After receiving two objections against the Business Rehabilitation Plan of THAI, the Planner's clarification, and the official receiver's opinion regarding several issues, the Central Bankruptcy Court granted an order to approve THAI's Business Rehabilitation Plan as well as the amended plan following the acceptance resolution of the creditors' meeting on 19 May 2021. As a result, the Plan Administrator nominations whose names were proposed according to the Business Rehabilitation Plan and the amended plan, i.e. Mr. Piyasvasti Amranand, Mr. Pornchai Thiravet, Mr. Siri Jirapongphan, Mr. Kraisorn Barameeauychai, and Mr. Chansin Treenuchagron, has become the Plan Administrators who are authorized to operate THAI's business and implement the plan.

THAI would like to thank the Central Bankruptcy Court, the official receiver at the Legal Execution Department, creditors, customers, business partners, the Planner, and all employees for their contribution leading to the approval of the Business Rehabilitation Plan, as well as for the opportunity which has been provided, resulting in THAI being enabled to continually operate the business under the business rehabilitation proceedings. The Plan Administrators and all employees are committed to performing their duties for a successful implementation of the plan and for the utmost benefit of all creditors. THAI hopes to instill confidence in all creditors and customers that THAI will resume its ususal operation and services in order to maintain itself as an organization that can compete in the market. The business operation of THAI as the national flag carrier will be the pride of Thailand and Thai people as it would support in driving the economy and tourism industry of Thailand.