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Thai AirAsia X, the latest Thai carrier to file for corporate relief | News

Bangkok-based low-cost long-haul carrier Thai AirAsia X has filed for corporate relief, although it stresses that its day-to-day operations will not be affected by the process.

The airline said on May 19 that the objective of the corporate rehabilitation “is to reorganize the administrative process of the business and restructure its debts, providing greater efficiency and a solid platform for growth. robust future after weathering the Covid-19 pandemic”.

She adds that her application was approved by Thailand’s Central Bankruptcy Court on May 18. He did not say when he expects the process to end.

The move comes as the carrier begins to restart its international network, having been grounded for nearly two years of the pandemic, when borders were mostly closed.

Thai AirAsia X notes that the rehabilitation process will not affect its decision to resume flights to South Korea and Japan, which were scheduled to begin from June. The airline adds that it has “further expansion plans” in the short and medium term.

Airline Chief Patima Jeerapaet said: “Thai AirAsia X has entered rehabilitation at an appropriate time with the recovery of tourism and the reopening of the country. We assure that this process will have no impact on our passenger services or flight plans during this process.

The carrier is the latest Thai carrier to file for corporate relief, following compatriots Thai Airways and low-cost carrier Nok Air.

Malaysia-based sister unit AirAsia X itself began debt restructuring during the pandemic, although it completed the process in March and is in the process of resuming operations.

Thai AirAsia X says the restructuring process will affect the operations of Thai AirAsia or its parent company Asia Aviation, both of which are “separate entities with separate operations and routes”.