Thai Airways Nears Rehabilitation Exit, Set for Stock Market Return
Bankruptcy Court to deliver crucial ruling on 16th June, potentially paving the way for airline's shares to resume trading as early as July
Thai Airways International Plc (THAI) is on the cusp of exiting its business rehabilitation programme, with a pivotal ruling from the Central Bankruptcy Court scheduled for 16th June 2025.
Should the court approve the petition, the national carrier's shares are anticipated to resume trading on the Stock Exchange of Thailand (SET) as early as July this year.
Piyasvasti Amranand, Chairman of the Executive Committee of THAI's rehabilitation plan, disclosed the court's decision following a hearing on Wednesday.
He confirmed that the Central Bankruptcy Court convened to consider the airline's petition to conclude its rehabilitation, asserting that THAI has meticulously fulfilled all conditions stipulated in the rehabilitation plan.
Crucially, the Official Receiver has also issued a written confirmation verifying THAI's complete compliance with these terms.
The court is set to deliver its verdict at 09:00 AM on 16th June 2025. A favourable decision will see THAI revert to its status as a standard company.
This transition will entail the transfer of executive powers from the plan administrators back to the company's shareholders and Board of Directors, bringing the airline in line with typical corporate governance structures.
The duties of the plan administrators will cease immediately upon the court's order.
Looking ahead, THAI is actively preparing for its re-listing on the Stock Exchange of Thailand.
Despite the procedural steps required by the SET, current assessments suggest a high probability that THAI will meet its target of resuming securities trading next month, in July.
During today's court proceedings, the Central Bankruptcy Court also addressed an additional debt repayment claim filed by one witness, relating to a group of eight labour creditors.
THAI's legal team clarified that the plan administrators had meticulously settled all debts in full and in accordance with the agreed plan.
They refuted claims of non-payment, explaining that the creditor's submission related to unused holiday compensation from 2014-2016. Ultimately, the Central Bankruptcy Court dismissed the entire debt repayment claim.
Piyasvasti further affirmed that these claims by the former employee creditor group have not affected the process of terminating the rehabilitation.
He noted that this group ultimately did not file any formal objections, as they were not creditors with the standing to do so. While some employees were present at the court today, no formal objections were submitted.
Thai Airways reiterated that all compensation payments have been made in line with court judgments, and no court has ruled that any payments constituted discrimination.
The airline has provided comprehensive clarification to the court, and the Official Receiver has corroborated that the entire debt settlement process has been conducted accurately and thoroughly.
