P1racenews AI automatic summary:
The Pierer Mobility Group’s restructuring plan to ensure KTM’s survival has been approved by bank creditors in Austria.
On Tuesday, KTM is set to pay €548 million in a regional court, with repayment by the end of May 2025. The Austrian company will repay 30% of its debts exceeding €2 billion after entering self-administration in November 2024. Following the initial payment, court approval for restructuring is expected at the beginning of June. KTM already has raised about €900 million from external sources and anticipates resuming production in mid-March after a temporary halt. A €50 million loan from shareholder Bajaj Auto, which holds a 49.9% stake in KTM, is reported. While their commitment to the MotoGP program for the upcoming season is firm, KTM’s future post-2026 is uncertain. Pierer Mobility AG’s recent statement outlines the restructuring process, including a cash quota payment to creditors and the plans to achieve full production capacity within three months.
