THAI to request more time to finalise rehab plan

THAI to request more time to finalise rehab plan

Thai Airways International (THAI) will next week ask the central bankruptcy court to extend the deadline for submission of its business rehabilitation plan by a month, from January 2 to February 2, said acting president Chansin Treenuchagron.

Chansin said he was confident the carrier could carry out the plan successfully. According to law, the rehabilitation plan must be fully implemented in five years, after which the rehab process can be extended twice for one year each time.

The carrier has continued to see revenue from both its aviation and non-aviation businesses, said the acting president.

He said THAI planned to trim costs by another 30 per cent next year.