Thai Airways CEO resigns after rehabilitation plan approved
Thai Airways announced that its acting Chief Executive Officer Chansin Treenuchagron had resigned. Suvadhana Sibunruang, currently the Chief of Human Resources, is to take over, the airline revealed in a statement on June 16, 2021.
The decision comes a day after the Central Bankruptcy Court of Thailand gave the final go-ahead for Thai Airways’ rehabilitation plan. Chansin should remain as an administrator to supervise the business rehabilitation.
The business reorganization plan includes a revenue increase plan, expense reduction, work process adjustment, and organizational restructuring to sustainably increase efficiency. The financial reorganization includes debt and capital restructuring.
Qatar Airways returns to profit helped by increasing traffic and cargo
Qatar Airways returns to profit for its latest financial year and says it has taken international market share...
Air France-KLM raises $2.4 billion in rights issue to reduce debt
Franco-Dutch airline group Air France-KLM has raised $2.4 billion in the latest rights issue....
Wizz Air sees record summer but first-quarter losses amidst industry disruption
Low-cost carrier Wizz Air is expecting a record summer of flying, but warns of challenges from ATC, airport staffing and...