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Thai Airways aims to finish restructuring in 2024 as travel rebounds

Increased passenger traffic helps carrier halve capital needs under updated plan

Thai Airways International filed for bankruptcy protection in May 2020, during the early months of the coronavirus pandemic. (Photo by Akira Kodaka)

BANGKOK -- Thai Airways International on Friday announced that it expects to complete its capital restructuring in 2024 through a debt-for-equity swap, as easing travel restrictions from COVID-19 lift its performance.

The embattled flag carrier has submitted an updated turnaround plan to the authorities, and will seek approval from creditors in a meeting around August or September, pending a green light from the court.

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