Shareholders at Nok Air have approved a 1.5 billion baht investment scheme in a bit to revive the ailing company.
The airline will raise the funds via a share scheme, selling up to 625 million ordinary shares to existing shareholders.
Commitments have been assured from its two largest shareholders Thai Airways International and businessman Nuttapol Jurangkoo.
The funds are required to rid the airline of its debts.
Narongchai Wongthanavimok, a Nok Air board member, said the company will hire consultants to iron out a rehabilitation plan.