Thai Airways has managed to sell the first 11 aircraft out of a total of 37 it has put up for sale as part of its bankruptcy recovery program. The airline’s acting president said, Thailand’s transport minister has permitted Thai Airways to sell 1 older Boeing 737-400 plane and 10 Boeing 747-400 ‘Jumbo’ jets.
Thai Airways had found buyers for the 11 furloughed aircraft. But Thailand’s Civil Air Operating License required authorization from the minister in charge.
Transport Minister has now permitted to dispose of the 11 aircraft.
Meanwhile, the national airline has been trying to recover since its filing for bankruptcy in May 2020 by reducing expenses, reforming the organization, reducing staff and senior management, and selling unnecessary secondary assets, including some of its older fleet.
The airline also sold land, buildings, and stocks in Bangkok Aviation Fuel and NOK Air (which also filed for bankruptcy in July 2020). The former proud national carrier was carrying 400 billion baht debt when it filed for bankruptcy.
The airline’s acting president said that Thai Airways has already sold around 9 billion baht in assets as part of its recovery. The airline has also been adding new routes or re-establishing old flights as the global aviation industry slowly recovers from the Covid pandemic.
The airline also made over a million baht in just a minute in March this year by selling their colorful economy class seats from a decommissioned Airbus A330-300. They also opened up a pop-up restaurant at their Bangkok offices serving Thai Airways in-flight meals (with seats from their planes, of course).
Thai Airways has managed to sell the first 11 aircraft out of a total of 37 it has put up for sale as part of its bankruptcy recovery program. The airline’s acting president said, Thailand’s transport minister has permitted Thai Airways to sell 1 older Boeing 737-400 plane and 10 Boeing 747-400 ‘Jumbo’ jets.
Thai Airways had found buyers for the 11 furloughed aircraft. But Thailand’s Civil Air Operating License required authorization from the minister in charge.
Transport Minister has now permitted to dispose of the 11 aircraft.
Meanwhile, the national airline has been trying to recover since its filing for bankruptcy in May 2020 by reducing expenses, reforming the organization, reducing staff and senior management, and selling unnecessary secondary assets, including some of its older fleet.
The airline also sold land, buildings, and stocks in Bangkok Aviation Fuel and NOK Air (which also filed for bankruptcy in July 2020). The former proud national carrier was carrying 400 billion baht debt when it filed for bankruptcy.
The airline’s acting president said that Thai Airways has already sold around 9 billion baht in assets as part of its recovery. The airline has also been adding new routes or re-establishing old flights as the global aviation industry slowly recovers from the Covid pandemic.
The airline also made over a million baht in just a minute in March this year by selling their colorful economy class seats from a decommissioned Airbus A330-300. They also opened up a pop-up restaurant at their Bangkok offices serving Thai Airways in-flight meals (with seats from their planes, of course).
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