Court approves THAI’s exit from four-year rehabilitation program

10 Sept 11:14 Key points summarised by AI

The Central Bankruptcy Court approved Thai Airways International (THAI)'s exit from its four-year rehabilitation program, clearing the path for its shares to resume trading tentatively in August.
THAI entered court-supervised rehabilitation in May 2020 due to a crushing 400 billion baht accumulated debt, having since repaid approximately 94 billion baht to creditors by Q1 this year.
The airline successfully met all four critical conditions for exit, including a registered capital increase, disciplined debt repayments, achieving 40 billion baht in EBITDA (double the benchmark), and establishing a new board.
THAI has demonstrated a significant turnaround, achieving consistent operating profits since 2023 and ranking among the top three airlines globally for profit margins in the last two quarters.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.