THAI Sells More Planes As Part of The Financial Restructure

Cash-strapped Thai Airways International (THAI) is selling three aeroplanes and a flight simulator as part of its financial restructuring efforts and ongoing efforts to modernise its ageing fleet, a company source said.

According to the source, the struggling airline has placed three Airbus A330-300s for sale – aged 12.2, 12.5 and 12.6 years, respectively – as well as a flight simulator for the aircraft model.

THAI operates 15 A330-300s, but the wide-body aircraft are now grounded due to low demand for air travel due to the ongoing Covid-19 outbreak.

Since November last year, the flag carrier has listed 34 of its aircraft for sale, including ten Boeing 747-400s, six Boeing 777-200s, and six Boeing 777-300s. Additionally, it sold six Airbus A340-600d aircraft, three A340-500 aircraft, two Boeing 737-400 aircraft, and an Airbus A300-600 aircraft.

THAI had been losing money for years, and last year requested assistance from the Central Bankruptcy Court following the grounding of its entire fleet due to the Covid-19 outbreak.

Piyasvasti Amranand, the airline’s independent director and one of the administrators of the airline’s rehabilitation plan, posted on Facebook that THAI can sell ten Boeing 747s if the Transport Ministry approves the sale.

However, Transport Minister Saksayam Chidchob stated that the government has received no such request.

By Joe Cusmano