Thai Airways wins court approval for restructuring plan

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BANGKOK (Reuters) – Thai Airways International Pcl won court approval on Tuesday for a restructuring plan, a legal adviser to the company’s creditors told Reuters, as the airline that is already under bankruptcy protection seeks to turn around its fortunes.

The Central Bankruptcy Court in Bangkok gave approval, which allows the plan to move forward, Somboon Sangrungjang said. The airline’s creditors last month approved the plan to restructure 245 billion baht ($7.87 billion) of its debt, but a court hearing was postponed after two complaints were filed.($1 = 31.1300 baht)