Bankruptcy court accepts Nok Air case; will decide in October on revival plan

Thailand’s Bankruptcy Court accepted, on Thursday, Nok Air’s request for arbitration and have frozen all debt repayments for the troubled low-cost carrier.

The coronavirus pandemic has hit the airline industry in Thailand hard with Nok Air now the second carrier to appear before the Bankruptcy Court after national flag carrier Thai Airways.

According to local media reports, Nok Air currently owes its debtors around 26 billion baht which is now given an automatic stay.

The company has already folded its long-haul unit Nok Scoot and will be looking to save its domestic business in its dealings with the Bankruptcy Court.

The court said that it will rule on the airlines’ proposed revival plans on 27 October.

Stock Price Info

Stock Fundamental

Peer Comparison

Stock Price Chart

Advertisement -

COVID-19

No new coronavirus cases in Thailand on Tuesday

Thailand’s government said on Thursday that it had discovered no new cases of coronavirus in the last...
Advertisement -
Advertisement -

Latest article

Student leaders say they are unconcerned with politicians urging caution

Student leaders told Thai Enquirer on Wednesday that they were unconcerned with political parties urging caution after a controversial rally on Monday...

Right-wing Thai media takes aim at student protesters arguing Monday’s rally had crossed the line

Following a large student rally at Thammasat University on Monday, right-wing conservative media over the last 48 hours have taken aim at...

7.5 per cent surge on MAKRO shares due to strong second-quarter results

Siam Makro PCL (MAKRO) shares rose up by 7.45 per cent to 43.25 baht per share on Tuesday morning trade (11:00 a.m.),...

Forums to communicate with protestors will be set up around the country within a week, Prayut said

Forums will be set up around the country by mid-August to listen to the student protestors’ grievances and demands, Prime Minister Prayut...

Managing-director of Italian-Thai receives prison sentence for illegal possession of rifle

On Tuesday, Thailand’s Appeals Court sentenced Premchai Karnasut, the president of Italian-Thai Development Corp, to six months in jail for possessing a...

No new coronavirus cases in Thailand on Tuesday

Thailand’s government said on Thursday that it had discovered no new cases of coronavirus in the last 24 hours.