Court nod paves way for makeover of THAI B400bn debt

Thai Airways International won court approval on Tuesday for restructuring its 400-billion-baht debt load as the airline that is already under bankruptcy protection seeks to turn around its fortunes.

The court ruling removes the last hurdle to the implementation of the plan, seen as critical for the carrier which last year posted a record loss of about 141.2 billion baht.

The Central Bankruptcy Court in Bangkok said in its order it approved the rehabilitation plan. The court did not make any changes to the plan that was previously approved by creditors.

A hearing was postponed after two complaints were filed against the plan by certain creditors.

“We are satisfied with the decision,” Somboon Sangrungjang of law firm Kudun and Partners, which represents 87 saving…