Thai mulls further extension to rehabilitation plan submission

THAI is considering another extension on the deadline to submit its restructuring plan, this time until the end of February or beginning of March. On 5 January, the carrier said it had been granted a one-month extension to a previous deadline of 2 January to submit its rehabilitation plan, with the new deadline being 2 February. In a 26 January update on its restructuring, it says its rehabilitation planners are considering an additional one-month extension “according to the legal framework”. On 13 January, the carrier’s president Chansin Treenuchagron said it was working “diligently” on the plan to ensure it would be submitted by its “specified timeframe”. Thai’s planners are considering extending the deadline again after having discussions with creditors “from several classes”, the company says in its latest update. An extension would ensure the airline can “generate an optimal financial plan”.<br/>