Green light for Nok Airlines restructure
Thailand’s Central Bankruptcy Court has approved Nok Airlines Public Company’s restructuring plan in time for the low-cost carrier to boost flights during the Thailand’s high season for travel. Read More » Nok Airlines chief executive, Wutthiphum Jurangkool, informed the Stock Exchange of Thailand of the approval this week and expressed confidence the plan would soon be successfully implemented. The go-ahead for the rehabilitation plan, which is the culmination of several hearings and months of arbitration, comes after creditors approved amending of the plan on August 4. Work on the restructure can now get underway under administrators Wutthiphum, Tai Chong, Prinya Waiwatana and Chavalit Uttasart. The stock exchange statement said the administrators were authorized to operate the business, manage the company’s assets and implement the plan. Wutthiphum said the court had considered the plan, its amendment, objections against the proposal as well as clarifications by the planner and receivers on several issues. “The company will report on the progress of the rehabilitation, including any other matters,’’ he said.