Low-cost long haul carrier Thai AirAsia X has filed for business rehabilitation, becoming the latest Thai airline to file for business restructuring following Thai Airways and Nok Air.
Thai AirAsia X said it aims to “revamp the company’s administration process and restructure its debts delivering greater efficiency and a solid platform for robust future growth after weathering the COVID-19 pandemic”.
According to a statement, the application for business restructuring was approved on May 18, 2022.
“Thai AirAsia X has entered into rehabilitation at an appropriate time with tourism recovering and the nation reopening,” Patima Jeerapaet, Chief Executive of Thai AirAsia X, said.
The carrier also added that business rehabilitation will not affect its plans to restart operations.
“Thai AirAsia X also has further plans for expansion and will be adding flight frequencies and new routes in line with demand,” Patima added. “Passengers who have already booked or are looking to book our flights will be able to fly to South Korea and Japan starting this June 2022.”
According to Thai AirAsia X, the restructuring process will have no impact on Thai AirAsia and Asia Aviation (AAV), which are separate entities.
AirAsia X, a sister company based in Malaysia, had previously filed for business rehabilitation. The airline completed its debt restructuring in March 2022.