Thai Airways puts 34 planes up for sale
published : 5 Nov 2020 at 18:04
writer: Online Reporters
Bankrupt Thai Airways International has put 34 passenger aircraft from its fleet up for sale, hoping to find buyers by Nov 13.
Aircraft listed on the sale notice posted on its website include 10 Boeing 747-400s manufactured between 1993-2003, six Boeing 777-200s built in 1996-1998, and six Boeing 777-300s manufactured from 1998-2000.
Others are six Airbus A340-600s built from 2005-2008, three A340-500s that left the production line in 2005-2007, two Boeing 737-400s made in 1992-1993, and one Airbus A300-600 built in 1993.
The airline said it expected to deliver the planes to buyers by the second quarter of next year. The deadline for those interested in buying the aircraft is Nov 13.
THAI did not provide other details.The sale is believed to be part of a plan to modernise the fleet.
The airline had been bleeding money for many years. It finally sought help, and the Bankruptcy Court approved a business rehabilitation plan this year after the coronavirus pandemic caused the grounding of most of its fleet, adding to its liquidity woes.
The airline is in debt to the tune of 332 billion baht, according to figures posted on the Stock Exchange of Thailand website.
It is reducing the workforce, with almost 5,000 employees having signed up for the company's early retirement scheme.
With most of its planes sitting on the ground, the bankrupt airline turned to selling deep-fried dough, or patong-go, from its outlets to generate some revenue, and it became so popuar that it plans to franchise the business.
THAI has been deperately looking for buyers for its A340-500s, hoping to get rid of all of the fuel-thirsty jets. Only one has been sold so far - to the Royal Thai Air Force in 2016.