Thai Airways is facing further delays in its ongoing business rehabilitation process as creditors who sought to revoke the resolution to amend the rehabilitation plan encountered a setback. The Central Bankruptcy Court has postponed their hearing to 21 January 2025, granting creditors additional time to prepare the necessary documentation.
Nok Air, a budget carrier based in Thailand, has amended its business rehabilitation plan, implementing critical changes to ensure financial recovery. The updated plan includes revised loan facilities, adjusted repayment terms to lessors, and an extension of the implementation timeline by one year, now running until September 2027.
AFI KLM E&M (France) and AAR (US), two major global players in the aviation maintenance, repair, and overhaul (MRO) industry, have announced a strategic partnership to form a joint venture in the Asia-Pacific region. The JV will be headquartered in Chonburi, Thailand, and will specialize in the maintenance and support of nacelles for new-generation aircraft.
Thai Airways International has undergone a significant shareholding restructure as part of a debt-to-equity conversion, altering the composition of its major shareholders. This move is a key element of Thai Airways’ broader restructuring plan aimed at improving its financial stability and positioning the airline for long-term recovery.
Thai AirAsia X has unveiled plans to launch direct flights between Bangkok Don Mueang Airport and Harbin starting December 24, 2024. The route will be operated using the Airbus A330-300, offering passengers a comfortable and efficient travel option to this key destination in China.
IndiGo (India) has announced the launch of daily direct flights between Kolkata and Phuket, set to commence on December 27, 2024. This new route reflects IndiGo’s commitment to enhancing international connectivity and catering to the growing demand for travel to popular destinations in Southeast Asia.
Thai Lion Air has taken delivery of a Boeing B737-900ER, identified by serial number 41712. The aircraft, acquired on lease and powered by CFM56-7B26E engines, enhances the airline’s capacity for medium-haul operations.
Thai Airways International is taking significant steps to simplify and modernize its fleet, focusing on operating three widebody aircraft types and a single narrowbody family in the medium term. This strategy reflects the airline’s efforts to enhance efficiency, reduce operational complexity, and align with its growth objectives.
Thai Airways International has announced plans to raise up to $1.27 billion through a share rights offering, marking a pivotal step in its efforts to exit court-supervised debt restructuring. This initiative will also enable the resumption of the trading of the airline’s stock on the Thai stock exchange.
Thai Airways International is on track to exit its rehabilitation plan by mid-February 2025, marking a significant milestone in the airline’s recovery journey. The carrier, which has made strides in improving its financial situation, is also expected to resume trading on the stock exchange by May 2025.
