THAILAND'S GOVERNMENT has agreed to help the financially troubled Thai Airways International to restructure its business with the assistance of the country's bankruptcy court. The Thai cabinet gave approval for a reform plan that will allow a business reorganisation through the Central Bankruptcy Court of Thailand and the Bankruptcy Act. In a May 19 statement from its website, Thai Airways stated: "[The airline] will not be dissolved or go into liquidation or be declared bankrupt. On the contrary, the business reorganisation chapter will enable Thai [Airways] to reach its reform plan's objectives even more effectively step by step as required by the law, which provides equitable protection to all relevant stakeholders while being able to conduct its normal business operations... The business will be conducted in parallel with the reform plan to increase operational efficiency and improve product and service quality."
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