Thai Airways wins court approval for restructuring $12.9b debt

FILE PHOTO: Workers service a Thai Airways Airbus A380-800 aircraft at Bangkok International Suvarnabhumi Airport, Thailand September 3, 2019. Picture taken September 3, 2019. REUTERS/Amr Abdallah Dalsh

Thai Airways International Pcl won court approval on Tuesday for restructuring its $12.9 billion debt load as the airline that is already under bankruptcy protection seeks to turn around its fortunes.

The court ruling removes the last hurdle to the implementation of the plan, seen as critical for the carrier which last year posted a record loss of about $4.5 billion.

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