The Thai government has confirmed suspicions that Thai Airways is beginning bankruptcy proceedings. On Monday, 18 May, Reuters reported that Thailand plans to take a rehabilitation plan for Thai Airways to the bankruptcy court. A key government panel has backed the undisclosed plan. It is now due for consideration by the Thai cabinet on Tuesday.
The world’s second-oldest airline and the second-largest in Latin America, Avianca, has filed for bankruptcy after failing to meet a bond payment. The airline was forced to announce this bankruptcy due to the wide-ranging effects of the COVID-19 pandemic. The closure of borders and shelter-in-place orders has severely restricted the airline’s operations, leading to significantly