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    Creditors of Thai Airways approve reorganization plan

    The post Creditors of Thai Airways approve reorganization plan appeared first on TD (Travel Daily Media) Travel Daily. Thai Airways creditors give the airline one more chance to re-organise its business and return to profitability. Creditors of Thai Airways International holding 91.56% of the airline’s debt have approved a business reorganization plan, the company announced Wednesday in a filing to the Stock Exchange of Thailand. The plan, including three amendments added in consultation with the creditors, now needs final approval by Thailand’s Central Bankruptcy Court on May 28. The carrier has generated losses for several consecutive years. It ran up THB2.11 billion (USD67 million) in losses in 2017, THB11.6 billion…