Thailand’s Nok Air’s rehabilitation plan set for approval

Nok Air (DD, Bangkok Don Mueang) said in a stock market filing that no objections had been raised against its rehabilitation plan, submitted to the Central Bankruptcy Court on July 30, 2020, thus paving the way for its final approval. While the Court recognised that no one had objected to the plan and that no further hearings would be necessary, a final decision on whether the plan will be approved or not is expected on November 4. In its rehabilitation filing, Nok Air said that it had “no intention to terminate or liquidate its business but resolved to continue its business and return to profitability”. The airline is one of two Thai carriers currently undergoing formal restructuring, alongside flag carrier Thai Airways International (TG, Bangkok Suvarnabhumi), which incidentally is Nok’s 13.28% shareholder. Although Thailand remains closed to almost all foreign travellers, Nok Air remains active on a relatively dense network of domestic routes within the country.