[CALS-INSOL Asia] Distressed Airlines – The Modern Toolkit for Asia and Beyond

On 28 October 2024, the Centre for Asian Legal Studies (CALS) at the Faculty of Law, National University of Singapore, in partnership with INSOL International’s Asia Hub and Baker McKenzie Thailand, held a webinar titled “Distressed Airlines – The Modern Toolkit for Asia and Beyond”. The panel featured Paralee Techajongjintana and Yada Yuwataepakorn from Baker McKenzie Thailand, Howard Lam from Latham & Watkins Hong Kong, Luke Barefoot from Cleary Gottlieb New York, and Ian Pascoe from Grant Thornton Thailand. Toh Ding Jun, Research Assistant at CALS, moderated the discussion. The webinar was attended by more than 60 participants.

During the session, the speakers shared real-world insights from their work in the restructuring of four airlines: (1) Thai Airways, (2) NOK Air, (3) Hong Kong Airlines, and (4) LATAM Airlines. They explored the complex challenges faced and how they overcame them, tackling cross-border legal issues, financial difficulties caused by the COVID-19 pandemic, and the different ways of grouping creditors. The speakers engaged in a fruitful discussion, where they exchanged perspectives on financing and re-financing strategies and compared how domestic policy considerations influenced their respective approaches.