Thai Airways disputes $7.4b of aircraft lessor claims

Thai Airways International is challenging some $7.4b in claims from dozens of aircraft lessors and engine service provider Rolls-Royce Holdings, saying it isn’t liable for the monies because they concern future expenses and were incurred after the airline received bankruptcy protection from a Bangkok court. Thailand’s flag carrier, which is undergoing a court-supervised restructuring to trim debt and return to profit by raising fresh capital, is disputing around 192b baht ($6.3b) claimed by 48 lessors including BOC Aviation and SMBC Aviation Capital, and another 33b baht that Rolls-Royce says it’s owed for maintenance services, according to a copy of the debt rehabilitation plan. A spokesperson for Thai Airways declined to comment. Representatives from BOC Aviation, and Rolls-Royce and SMBC Aviation in Europe also declined to comment. The disputed amount is more than half of Thai Airways’ total liabilities of 410b baht. Yet an amicable settlement with creditors is key for the airline to stave off bankruptcy. <br/>