Sunday, November 8, 2020

Thai Airways Desperate, Forced to Sell Aircraft!

 Thai Airways International Pcl is looking for potential buyers for 34 used Airbus SE and Boeing Co jets as part of its restructuring plan. Based on the announcement made, the aircraft sold include Airbus A340s, Airbus A300, Boeing 737s, Boeing 747s, Boeing 777s aged between 10 and 28 years.

In a statement today, Thai Airways said the announcement was part of a market survey to identify potential buyers who might be interested in buying used aircraft.

In addition, aircraft sales will require relevant stakeholders and Bankruptcy Court approval.

According to the company, the sale will also be in line with the restructuring plan to make its cost management plan a success.

Last September, the Bankruptcy Court in Thailand approved Thai Airways to continue its debt restructuring plan of 245 billion baht.

For all intents and purposes, the airline recorded annual losses since 2012, except in 2016, and suffered a net loss of 12.04 billion baht in 2019.

This is due to the financial problems he faces, driven by rapid competition in the aviation industry, as well as the spread of the COVID-19 pandemic and travel restrictions that halted flights.