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Thailand’s Nok Air restructuring ongoing however faces delisting
04.10.2022 – 22:42 UTC
The Central Chapter Court docket in Bangkok has issued one other approval concerning the Nok Air (DD, Bangkok Don Mueang) enterprise rehabilitation plan and an modification accepted by collectors. In a September 29 Inventory Trade of Thailand (SET) submitting, the airline mentioned that the rehabilitation plan developed by directors Wutthiphum Jurangkool, Tai Chong Yih, Prinya Waiwatana, and Chavalit Uttasart, had been accepted by the courtroom that day.
Nok Air filed for chapter safety in July 2020 after the pandemic made managing the airline’s THB18+ billion baht (USD475.4 million) unattainable. On the time, it mentioned it will use the judicial course of to restructure its enterprise. It took an extra 13 months earlier than over 76% of collectors accepted the restructuring plan whereas embattled former mother or father Thai Airways Worldwide (TG, Bangkok Suvarnabhumi) offered down its stake to underneath 10%.
The directors mentioned within the submitting that the airline had paid collectors THB16,783,203 baht (USD443,226) within the three months to September 28, per the present collectors’ settlement. They mentioned that journey demand was bettering and that they…
Thailand’s Nok Air accelerates restructuring course of
22.09.2022 – 03:42 UTC
Following the Inventory Trade of Thailand (SET) warning of a attainable delisting, Nok Air (DD, Bangkok Don Mueang) is ramping up its restructuring efforts. The brand new methods, introduced in a September 16 submitting to the SET, transcend the steps agreed to underneath the court-supervised enterprise rehabilitation course of that the airline is presently working via.
Nok Air CEO Wutthiphum Jurangkool mentioned within the submitting {that a} recent deal with capital restructuring, debt restructuring, and a few operational modifications would keep away from the opportunity of delisting and ship higher worth for shareholders, together with mother or father firm Thai Airways Worldwide (TG, Bangkok Suvarnabhumi).
“The Firm has plans for capital restructuring by rising the capital in response to the rehabilitation plan to make sure that the Firm’s enterprise will resume effectively and get probably the most profit, which is able to drive the shareholder fairness to grow to be better than zero,” mentioned the CEO.
The debt restructuring course of will now embrace an “enchancment of fleet and kind of plane utilization,” with an even bigger deal with worldwide routes to focus on bigger revenues, together with opening a…
Nok Air eyes Suvarnabhumi base, extra B737-800s
18.07.2022 – 23:16 UTC
Nok Air (DD, Bangkok Don Mueang) is making ready to develop its enterprise because it emerges from restructuring with a plan to boost THB4.88 billion baht (USD133 million) in recent capital, add at the very least six B737-800s by 2023, and probably open a base at Bangkok Suvarnabhumi, Chief Government Wutthiphum Jurangkool informed the Bangkok Submit in an interview.
“The airline plans so as to add six extra B737-800 plane to the present fleet of 17 plane this yr and subsequent. Nonetheless, this can rely upon demand, notably from China and neighbouring international locations,” Wutthiphum mentioned.
The ch-aviation fleets superior module reveals that the low-cost service, which counts Thai Airways Worldwide (TG, Bangkok Suvarnabhumi) as its minority shareholder, presently operates fourteen B737-800s and three DHC-8-Q400s. It has retired three B737-800s and 5 DHC8-Q400s because the starting of the COVID-19 pandemic however is now trying to develop the fleet once more. The remaining De Havilland Plane of Canada turboprops are slated for retirement by 2027 on the newest.
Wutthiphum added that the potential entry into…
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