Thai Airways begins rehab proceedings in bankruptcy court

Some creditors question legitimacy of process while investors sell off shares

Thai Airways' total shareholders' equity turned negative at minus 18.1 billion baht as of June due to a net loss of 28 billion baht in the first half of this year. © AP

MASAYUKI YUDA, Nikkei staff writer

August 17, 2020 20:29 JST

BANGKOK -- Thai Airways International's rehabilitation proceedings kicked off at Thailand's Central Bankruptcy Court on Monday, with executives from the cash-strapped national airline and its creditors attending the hearing.

Acting President Chansin Treenuchagron and two members of the airline's board represented the company as witnesses. Roughly 100 people attended the hearing.