Central Bankruptcy Court authorise Thai Airways recovery plan

Today, Thai Airways (THAI) gained a much-needed boost when the Central Bankruptcy Court granted the airline's plea to revamp its recovery plan. The news comes after THAI said that the number of passengers had increased by 80% this month and that the number of flights to Melbourne, Australia, would be tripled in December.

The Nation reports that the court told Thailand's national flag carrier to keep running after most of its creditors agreed to the new plan.

Approximately 79% of creditors, including the Finance Ministry, reportedly supported THAI's new recovery plan.

In the past few years, the COVID-19 epidemic has hurt most companies, including THAI.

Late in 2019, the airline filed for bankruptcy protection after declaring enormous debts of 245 billion baht. In May 2020, the Cabinet authorised the rehabilitation plan under the Bankruptcy Act, which was subsequently approved by the Central Bankruptcy Court. Over the last several months, however, there have been signs of recovery.

As part of its reorganisation efforts, THAI stated in July that it would rent three additional aircraft and hire 600 more employees. After reducing expenses, selling inventory, pursuing debtors, and dispersing airline tickets, revenue climbed.

The Thai Enquirer reports that THAI has reported an 80% passenger rise for the first ten days of this month.

The airline said that its average daily passenger traffic increased to 17,554 from 2,094 in January 2022.

THAI said that the number of people who want to travel has kept going up over the first nine months of this year. This is because travel restrictions and limits have been eased or removed in many countries around the world.

According to simpleflying.com, THAI has announced intentions to quadruple flights between Melbourne Tullamarine and Bangkok Suvarnabhumi beginning December 1.

The itinerary for flights between Bangkok and Melbourne:

Bangkok to Melbourne

• Flight TG461 leaves Bangkok at 8:20 am and arrives in Melbourne at 9:20 pm.
• Flight TG465 leaves Bangkok at 12:05 am and arrives in Melbourne at 1:05 pm.

Brisbane to Bangkok

• Flight TG462 leaves Melbourne at 12.30am and arrives at 5.40am in Bangkok.
• Flight TG466 from Melbourne to Bangkok leaves at 3.25 pm and arrives at 8.35 pm.