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Investing.com -- Flag carrier Thai Airways International announced Monday it will exit its debt restructuring program and expects to resume trading its shares on the stock market by early August.
Thailand’s national airline entered bankruptcy-protected restructuring in 2020, which led to cutting its workforce by half and reducing its fleet size.
The airline has achieved a significant turnaround, reporting continuous operating profits every quarter since 2023. This marks a major improvement for the carrier, which had recorded losses almost every year after 2012.
According to a court order, Thai Airways has a debt obligation to creditors of approximately 190 billion baht ($5.86 billion). The airline has already repaid 94 billion baht and plans to pay the remaining amount over the next decade.
"The company aims to enhance its international aviation potential and push Thailand to become a regional air travel hub," Thai Airways said in a statement.
In a separate announcement, the airline appointed Lavaron Sangsnit as its new chairman.
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