23 May 2024

Nok Air chairman Prasert Boonsamphan has assured that the Thai airline is determined to carry on operating, after the Central Bankruptcy Court accepted the company’s business rehabilitation plan yesterday.

He told the media today that the filing of the plan is the best way for the company to resolve its liquidity problem, under the supervision of the court, so that its operations can continue.
He assured that the company has no intention to cease operations, to fold or to end up bankrupt, but is as determined as ever to continue working back to prosperity.

Mr. Prasert explained that the company’s liquidity problem has been caused by several factors, among them the COVID-19 pandemic, which has had serious impacts on businesses the world over, including Nok Air.

He believes that, by applying for rehabilitation under the supervision of the Central Bankruptcy Court, Nok Air will be able to resolve its problems and resume normal operations in the future.

The initial approach of the rehabilitation plan, said Mr. Prasert, is to restructure the company’s debt, in a way which ensures fairness to all parties concerned, and is in line with the company’s ability to pay.

He is confident that the rehabilitation plan will be in place before the COVID-19 pandemic is effectively contained.

Nok Air has proposed Grant Thornton Specialist Advisory Services Company and the company’s board of directors, namely Messrs. Prinya Waiwattana, Tai Song-ee, Kasemsant Veerakul, Wutthipoom Chulangkoon and Chavalit Atthasart, as the rehabilitation planners.