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Buyers found for old Thai aircraft
30th Jun 2022
Thai Airways has found buyers for eleven of the thirty-seven aircraft it placed up for sale as part of its bankruptcy recovery plan. Thailand's transport minister gave the airline's acting president, Chansin Treenuchagron, permission to sell one older Boeing 737-400 plane and ten Boeing 747-400 "Jumbo" jets.
Thai Airways had found buyers for the 11 grounded planes, but they had to get approval from the minister in charge of Thailand's Civil Air Operating License.
Saksayam Chidchob, the Minister of Transport, has finally given the go-ahead for the sale of the eleven planes.
Since filing for bankruptcy in May 2020, the national airline has been attempting to recover by lowering spending, reorganising the organisation, decreasing employees and senior management, and selling superfluous secondary assets, including a portion of its ageing fleet.
Additionally, the airline sold property, buildings, and Bangkok Aviation Fuel and Nok Air shares (which also filed for bankruptcy in July 2020). The once-proud national airline was 400 billion baht in debt when it declared bankruptcy.
As part of its recovery, Thai Airways has already sold around 9 billion baht in assets, according to the airline's interim president, Chansin. As the global aviation sector gradually recovers from the COVID epidemic, the airline has also been launching new routes and re-establishing existing ones.
A few months ago, the airline generated almost a million baht every minute by selling the colourful economy class seats from a scrapped Airbus A330-300. They also made a pop-up restaurant at their Bangkok office that served Thai Airways in-flight meals (with seats from their planes, of course).
Since November 2020, the airline has put 37 aircraft on the market for sale. There are ten Boeing 747-400s, six Boeing 777-200s, and six Boeing 777-300s. The airline has also gotten rid of six Airbus A340-600s, three A340-500s, two Boeing 737-400s, three Airbus A330-300s, and one Airbus A300-600.
The majority of Thai Airways' fleet are still being stored at Suvarnabhumi Airport, awaiting the return of demand for their flights.
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