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Thailand’s Bankruptcy Court approves THAI restructuring plan: THAI chairman resigns in board reshuffle
June 16th 2021
Thai Airways International (THAI) said in a regulatory filing to the Stock Exchange of Thailand the country's Central Bankruptcy Court had approved the company's business rehabilitation plan. Read More » The court ruling allows THAI to restructure the 410.1 billion baht (US$13.2 billion) owed to creditors and reduce its issued capital. THAI also announced some personnel changes, with the appointment of a five-member panel of "plan administrators" to operate the airline’s business, manage assets and see through the restructuring of the flag carrier. Chansin Treenuchagron has resigned as acting CEO, but will remain a board director and a plan administrator. Suvadhana Sibunruang, THAI's chief of human resources, was named acting CEO. Three directors also have resigned: independent director and chairman, Air Chief Marshal Chaiyapruk Didyasarin, second vice chairman, Chakkrit Parapuntakul, and independent director, Boontuck Wungcharoen.
