Troubled Nok given extension to submit rehabilitation plan

Thailand’s Central Bankruptcy Court has granted low-cost carrier Nok Air a one-month extension to file its rehabilitation plan. In a Monday stock exchange disclosure, Nok chief Wutthiphum Jurangkool says the court allowed the carrier up to 15 April to submit its business restructuring plans. The troubled carrier had asked for a deadline extension, citing “several important aspects” of the proposal, which it says requires “the all-aspect analysis, consideration and formulation of the debt structure, capital structure, and organisational structure”. “This is in addition to legal issues and contractual obligations with employees, business partners, and debtors; as well as in conjunction with financial estimates, capacity for debt repayment and future business plans,” Jurangkool discloses. He adds that the rehabilitation plan “requires consideration [and] detailed analysis to result in a just outcome for all creditors”. <br/>