ARC NEWS
Thai Airways gets hearing date for rehabilitation plan amendment
September 23, 2022
Thailand’s Central Bankruptcy Court has scheduled a 20 October hearing for Thai Airways’ petition to amend its rehabilitation plan. "On 14 September, the court scheduled a hearing to consider the petition for amendment of the business rehabilitation plan. The creditors submitted the objection to the plan amendment," it says in a 22 September filing to the Stock Exchange of Thailand. “The court, thus, scheduled the inquiry hearings on 21 and 22 September 2022.” On 1 July, the plan administrators submitted a petition to amend its court-approved rehabilitation plan to allow it to carry out debt and capital restructuring to derive about Bt80 billion ($2.14 billion) in new equity. Under its proposed amendment, Thai indicated it may seek a new six-year term loan and/or bond of up to Bt12.5 billion, and potentially another Bt12.5 billion in the form of a revolving facility. This is the same amount as a Bt25 billion loan that Thai confirmed it was seeking from a private financial institution in November 2021, but is half the estimated Bt50 billion amount stated in its rehabilitation plan. At that point, the airline said the “successful completion of the proposed plan amendment will enable its equity to be positive in 2024 and its shares likely to be traded again on the stock exchange in 2025.”


China and Boeing hold talks about 737 Max return to service
September 22, 2022
The Civil Aviation Administration of China (CAAC) and Boeing assembled an aircraft evaluation group (AEG) which met in Zhoushan on 14 September to review Boeing 737 Max operation and training specifications, an indication of a possible return of the 737 Max to service. “[It is expected that] after the questions raised at the meeting are resolved, CAAC will release the revised version of the ‘Boeing 737 Aircraft Evaluation Report’, marking that China is nearing completion of the procedure necessary for the 737 Max [to return to service], the regulator says in a Chinese-language statement dated 20 September. The full-time aircraft operation reviewers from the flight standards department of the CAAC and the aircraft review centre of the Academy of Aviation Science participated in the review. Airline flight and maintenance technical experts were also invited to the meeting, as well as the chief operation inspectors and chief maintenance inspectors of regional administrations, and some personnel from Boeing China. Like many other jurisdictions, China grounded the 737 Max in March 2019 following the crash of Ethiopian Airlines flight ET302 on 10 March 2019, less than five months after a Lion Air jet of the same type crashed.


American to add 'Flagship Suite' premium seats on long-haul fleet
September 22, 2022
American Airlines will add its new Flagship Suite premium seating on all Airbus A321XLR and Boeing 787-9 deliveries beginning in 2024 and will also add redesigned aircraft interiors for its long-haul fleet. Flagship Suite seats will offer customers a private premium experience with a privacy door, a chaise lounge seating option and more personal storage space, the US major says. American's 787-9 aircraft will have 51 Flagship Suite seats and 32 premium economy seats, and A321XLRs will feature 20 Flagship Suite seats and 12 premium economy seats. The Fort Worth-based carrier will also be retrofitting 777-300ERs to include Flagship Suite seats. These 20 aircraft will be refreshed with the new interiors starting in late 2024. American will also retrofit its Airbus A321T fleet to align those 16 aircraft with the rest of its A321 fleet. The airline says it will continue to offer lie-flat seats on its transcontinental routes departing New York and Boston along with its "Northeast alliance" partner, JetBlue Airways.


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