Struggling Thai Airways, the national flag carrier of Thai, is reported to have put a further three aircraft and a simulator up for sale, to add to the 36 put up for sale last year.
Main picture a Thai Airways aircraft credit Ghana Shyam Khadka on Unsplash
The new items added to the list are Airbus A330-300s aircraft around 12 years old and an A330 simulator.
In mid-December last year the airline had the following planes listed for sale:
- 10 Boeing 747-400s, delivered between 1993 and 2003 – the entire fleet of 747’s
- Six Boeing 777-200s, delivered between 1996 and 1998
- Six Boeing 777-300s, delivered between 1998 and 2000 – the 200 & 300’s are the entire 777 short-haul fleet
- Six Airbus A340-600s, delivered between 2005 and 2008 – the entire A340 fleet
- Three Airbus A340-500s, delivered between 2005 and 2007
- Two Airbus A380-800s, delivered in 2013 – leaving just 4 A380’s in the fleet
- Two Boeing 737-400s, delivered between 1992 and 1993
- One Airbus A300-600, delivered in 1993
The move is the latest in a saga that started before the pandemic, many date the issues back to 2012, but was brought to a head as air travel worldwide shut down.
In May 2020 the airline filed for business rehabilitation as it faced 332.2 billion Baht (approx. £8.2 billion, $10.6 billion) of liabilities. Earlier this year it was estimated that the airline had been losing around an additional 1 billion baht (approx £23.6 million / US$33.3 million) a month since the lockdown began.
The on 24th February, Thai Airways International reported a record loss for the year 2020, the largest ever for a Thai company according to data compiled by the Stock Exchange of Thailand.
Revenue slumped almost 74% to just 48.3 billion baht (approx £1.1 billion / US$1.6 billion) resulting in a loss of 141.2 billion baht (approx £33 billion / US$4.69 billion). The losses included one-off expenses of almost 92 billion baht ( approx £2.16 billion / US$3 billion) from an employee separation plan, impairment losses on aircraft, right-of-use assets and aircraft spare parts.
As part of the debt rehabilitation plan Thai confirmed that was planning to cut its workforce by 50% to between 13,000 and 15,000, reduce its fleet size from 103 to 86 aircraft and reduce the types of aircraft it flies from 12 to 5, all by 2025.
Advertising and affiliate links help to support this site. We only partner with organisations who we believe provide a good service or product. Thank you.