BANGKOK, May 19 —Thai Airways International’s creditors have voted to approve the airline’s restructuring plan.

In a statement, Thai Airways said the creditors who attended the meeting and casted votes today accepted the rehabilitation plan that was submitted on March 2.

"Those who hold 91.56 per cent of the total debt accepted the rehabilitation plan.

"This would enable Thai Airways to continually operate the business under the business reorganisation process.

"It will also be maintained (the airline) as an organisation that can compete in the market,” it said. 

Meanwhile, five people including Thai Airways’ acting chief executive officer (CEO) Chansin Treenuchagron and former CEO Piyasvasti Amranandthe have been appointed as the administrators.

In March this year, Thai Airways had proposed a three-year freeze on loan repayments and a deferment of bond repayment for six years.

In September last year, Thailand’s Bankruptcy Court allowed Thai Airways to proceed with its debt restructuring plan worth 245 billion baht (RM32 billion).

Thai Airways recorded a loss of 141 billion baht last year as Covid-19 plunged the carrier deeper into the red. — Bernama