Creditors of Thai Airways International (THAI) have accepted an amended business reorganisation plan (BRP) submitted to them by the plan administrator at a meeting on Thursday, the airline announced.
In a statement, THAI said the plan administrator submitted the amended BRP to the official receiver who convened the creditors' meeting conducted remotely Thursday.
The creditors, holding 78.5% of the total debt, who attended Thursday's meeting voted to accept the BRP amendment. The meeting resolution was reached under the Bankruptcy Act. THAI thanked its creditors for adopting the amendment, saying it illustrates their confidence in the plan vital for turning the carrier around.
"This is a significant step in laying the foundation for THAI's growth and profit-making capability," the statement said, adding the airline's improved performance would help support an economic recovery.
