Cabinet sends THAI to Bankruptcy Court
The cabinet on Tuesday resolved that cash-strapped Thai Airways International (THAI) would file for bankruptcy at the Central Bankruptcy Court in order to work out its rehabilitation plan.
Prime Minister Prayut Chan-o-cha said it was the best course to help the troubled airline back onto its feet. Under the rehabilitation plan, THAI would not receive financial assistance from the government and its 20,000-member staff would not be laid off.
Bangkok Post Reporter
