An article in Global Restructuring Review on the Thai court’s approval of Thai Airways’ business rehabilitation plan features insights from John Frangos, partner and deputy director of Tilleke & Gibbins’ dispute resolution department.

The article reports that the airline’s rehabilitation plan has received court approval, over objections from two of the creditors. This step will now allow the airline—which has received over 13,000 debt repayment claims—to implement plan under the control of five administrators.

John, who co-leads the firm’s regional aviation practice, explained a number of issues to the article’s author, including the Thai government’s unwillingness to bail out the financially troubled company, the challenges facing Thai Airways (and the Thai aviation industry as a whole) during the pandemic, and the historic nature of this bankruptcy case.

John is representing many creditors of Thai Airways, and he shared their general reaction to the rehabilitation plan, noting that most were not necessary happy with it but did not object because they figured it was “the best deal they are going to get.”

The full article is available on the Global Restructuring Review website.