Bangkok, Feb. 19 -- Five years after filing for bankruptcy protection, Thai Airways International is planning an ambitious international expansion under the leadership of court-appointed debt administrator Piyasvasti Amranand.

Piyasvasti, who was brought out of semi-retirement in 2020 by then-Prime Minister Prayut Chan-o-cha, was tasked with crafting a rescue plan after the airline suffered annual losses since 2013.

Thai Airways expects to complete its debt restructuring by 2025 and aims to resume stock trading in the second quarter of that year.

A sounder financial footing allowed the airline in 2024 to order 45 Boeing aircraft with an option for 35 more. Flight capacity has been increased.

"Thai Airways' rapid turnaround is quite as...