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Thai Airways clears legal hurdles to launch rehab plan

Bankruptcy court approves restructuring of cash-strapped flag carrier

The approved rehabilitation plan is designed to tackle Thai Airways' unprofitable businesses.   © Reuters

BANGKOK -- A Thai court formally approved Thai Airways International's rehabilitation plan on Tuesday, clearing all legal hurdles to set the plan in motion.

"The Central Bankruptcy Court granted an order to approve Thai Airways International's business rehabilitation plan," the airline said in a statement. "The plan administrators and all employees are committed to performing their duties for a successful implementation of the plan and for the utmost benefit of all creditors." 

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