Thai Airways crash lands into bankruptcy court

Thai Airways International (THAI) is headed for bankruptcy court to pave the way for a much-needed rehabilitation for the octogenarian, near moribund national carrier, which in its glory days operated under the smug “Smooth as Silk” logo.

Thai Prime Minister Prayut Chan-ocha’s Cabinet approved the plan on Tuesday (May 19) after weeks of speculation his government might offer a state bailout of the coronavirus grounded airline.

“We will let THAI go under Bankruptcy Court protection and the court will oversee a rehabilitation plan and will set up a new management team to carry out the rehabilitation,” Prayut told media.

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