Court accepts bankruptcy plea of Covid-hit Thai AirAsia X
Thai AirAsia X, a Bangkok-based long-haul budget airline, has filed for bankruptcy with the Central Bankruptcy Court. Hearing will commence in August, it was disclosed on Thursday.
The company filed its case with the court on Tuesday and the court resolved to accept the plea the following day.
The court has scheduled hearings on August 22. The carrier’s creditors can submit their opposition to the plea at least three days before the hearings begin.
Thai AirAsia X is a joint venture of Malaysia carrier AirAsia X and Thai AirAsia airline.
Thai AirAsia X shareholder Tassapon Bijleveld, who is executive chairman of Thai AirAsia, said on Thursday that entering the business rehabilitation process is an option for the financially troubled airline to undergo financial restructuring.
“Now is the most suitable time. The airline has had to suspend its flights for two and a half years,” he said, adding that it plans to resume flights on June 1 to Seoul and Tokyo.
The carrier stopped all flights from March 16, 2020, after the Covid-19 pandemic struck.
Thai AirAsia X is the third Thai airline to seek rehabilitation through the Central Bankruptcy Court, after Thai Airways International and Nok Air.