Nok Airhas gained court approval to restructure under a business-rehabilitation process.
In a 4 November notice to the Thai stock exchange, Nok chief executive Wutthiphum Jurangkool states that the central bankruptcy court has ordered granting the company to be in business rehabilitation.
The court has appointed the Nok chief plus four other individuals, and Grant Thornton Special Advisory Services to prepare the carriers restructuring plan.
Nok says the plan will be ready within three months, and that creditors may apply for repayment of debt in the business rehabilitation by submitting an application within one month.
The airline said in September that it planned to improve fleet efficiency, seek alternative revenue streams, and…
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